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GIFT

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 June 2011 CAN A SON GIVE THE GIFT TO THE OWN FATHER.

WHAT IS THE EXEMPTED LIMIT IN INCOME TAX ACT. 1961.

PLEASE OVERCOME THIS PROBLEM.

THANKING YOU
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
15 June 2011 A SON CAN GIVE GIFT TO HIS FATHER.

THERE IS NO TAX ON GIFT TO RELATIVES AS DEFINED IN SECTION 56(2).
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
15 June 2011 gift to father is exempt
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