banner_ad

Tax implication on investment in minor name

Tax queries 288 views 1 replies

Respected Seniors,

I would like to request you to guide me about tax implication in following cases .

1) Legal guardian of a minor is giving a gift to minor and the same is invested in PPF A/c with bank.

2) Legal guardian is investing in mutual funds on growth basis in the name of minor which will  transferred to him as gift when he turn adult.

Please also do suggest whether both the above transaction are permissible by the law or not.

Regards and thanking you in advance.

Replies (1)
Gift from Relative is exempt and therefore under both the cases gift income will be exempt in the hands of minor. Furthe interest on PPF that is earned by the minor will also be exempt. Both the above mentioned transaction are allowed.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details