Invesment through parents for saving of tax

This discussion explores the possibility of reducing personal tax liability by gifting funds to parents and having them make investments. It highlights the higher tax exemption limits for senior citizens (₹3 lakh) and super senior citizens (₹5 lakh). While Section 56(2) of the Income Tax Act is mentioned regarding gifts, the consensus is that directly claiming exemption on salary paid to parents in your own ITR is not permissible. However, parents can invest the gifted funds in their own names, benefiting from their higher tax-free income thresholds.