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Prabhat Singh (CFA)     10 June 2021

Income clubbing for parents

Son gifts around 30 lakh to his senior citizen mother, mother invest it to gain some income (from stocks & F&O).  Will this income be clubbed with sons income since fund source was from him?  (I heard that clubbing not applicable in case of parents).
Also, will gift tax be applicable for parents?

Some says income will be clubbed whereas some say it will not
E.g. following blog by a CA says clubbing not applicable - https://www.charteredclub.com/tax-fd-mother-father/

Does anyone here have clarity on this?

 1 Replies


Sourav (Student)     11 June 2021

No the income will not be clubbed. The gain from F&O is taxable in the hands of your mother

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