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Querist : Anonymous

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Querist : Anonymous (Querist)
02 December 2010 My mother-in-law wants to gift a SIP mutual fund to my daughter (age: 8 years), where she will fund money of Rs 4,000 per month.

Will this money from MF will be added in my Income tax calculations?
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
02 December 2010 Yes,
only interest part will be added with parent income.
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CA.ViVeK M ACA

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CA.ViVeK M ACA (Expert)
03 December 2010 The Interest earned by minor daugter shall be deemed to be the income of parents
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