Dear all,
I want to have clarification from my learned friends. I have Sardar Sarovar DDB which was allotted by Govt. of Gujarat in 1995 which was expected to mature in 2014. But due to some changes in policy govt. decided to close this scheme in 2009 by giving all the bond hlder an amount of about 50000/-. My last year net profit as an individual was Rs. 125000/- only. I come to know there is a way to save the tds or tax as a whole (if it applicable to me) by gifting theis bond to my relative with blood relation who may not have taxable income. By this way I can get myself out of the LOSS of tax.
Is it true and if not please throw some light over the issue
Thanx
CAclubindia
