Ids scheme 2016 reg....
N.Nagarajan (Finance Executive) (45 Points)
28 July 2016N.Nagarajan (Finance Executive) (45 Points)
28 July 2016
Udgam Koomar
(Tax Technologist)
(1949 Points)
Replied 28 July 2016
Father son gifting is allowed, you sjould have just made a gift deed that time even if u dint mention it in ITR
mohammad rasool baig
(Management Consultant)
(1026 Points)
Replied 29 July 2016
if you want to claim the tax exemption on the gifts, please make sure that you have the gift deed executed and who is gifting signed on the papers. Without that the gift laws are not valid for claiming the exemptions.
Please try to consider it as "Gift received under a Will or by way of inheritance" & find out ways to document the same.
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