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Income by son from gift received from Parents

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 January 2011 What is the tax effect of income generated from Gift received from parents by son who is major and holding PAN and Tax has been deducted from Income so generated.

Thanks and awaiting valued opion from our experts
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Guest

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Guest (Expert)
10 January 2011 Income will be taxable in the hands of son only.
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
12 January 2011 the ioncome will be clubbed with sons income as the source of income is in sons hands
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Guest

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Guest (Expert)
13 January 2011 Still, Is there confusion ?

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