query

yes you can transfer and it will be wholly exempt in your mom's hand as gift from relative and you don't need to consider about clubbing of income too.

please can you give me ans of all 3 question by numbering so I can understand properly please

1. Taxability :-

For your Mom- It would be exempt in her hands u/s 56(2)(x) as she is covered under the definition of Relative and any gift given to relative would be exempt in the hands of the receiver (i.e. Your Mom) Without any limit.

For You- It has already been taken into account as you said that you are making it from your past savings so no question of taxing it again.

2. Yes, You can transfer whole amount in single day.

3. As I said in point 1 it would be exempt (tax free) I your mom's hand.

Thanks. 😊

so it would not be consider as mother's income while filing mom return in may2019 that 20 lacks in these single financial year?

yes it will but exempt hence she don't have to pay any tax .

means I want to know sir..it will be consider as her income for that particular year or not ?

NO , not an income but do show a note of this while filling ITR .

how and under which we can show these while filing return

sir I really don't know that you file ITR through Income tax utility or through a software , it would be better if you get in touch with one of a Tax return preparer or a CA (If there is a complicated case )

if you need any help you can WhatsApp at 9990652783

as I understood this that it will show 20lakhs in mom's account in one financial year as one kind of income only but while mom filing return we can show note u/s 56(2) so it will be nil in filing as mom housewife.

But only one question that how we can show that and where to show and explain clearly that( it's gift deed )as I am filing online,for making nil as filing return.