Gift

This query is : Resolved 

03 October 2016 Hello sir If the father gifts Rs.30,00,000/- to his son and the son earns interest income on this Rs.30,00,000/- then whether such interest will be clubbed in father's income..? (Son is assessable under Income Tax and pays regular taxes)

03 October 2016 If Son is Major i.e. above 18 year than no, interest earned on the amount is taxable in the hand of son



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