Hello
Is it possible for person A who earns to give the entire earnings as gift to the family member? Is there any tax that the family member pays for received the gift and in case of being the receiver as senior citizen , is there any exemptions?
Thanks
Person A needs to eat and there are other expenses. So, if his family members provide for him, he can gift his enitre earnings to them. He should file his income tax returns regularly and its better if he makes a balance sheet to disclose the earnings and the gift amount.
If the family members to whom he is gifting are covered in the definition of 'relative', then th egift so received will be exempt.
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