if any parents give cash gift to their son 50,000/- each and the son have no other income than what will be the tax liability of son and is the same amount is chargeable to tax for the parents? please give me suggestion for the same.
11 June 2015
RESPECTED SIR, WHAT WILL BE THE TAX LIABILITY IF WE GIVE THE CASH GIFT TO SON WITHOUT BANK TRANSACTION AND WITHOUT EXECUTION OF THE DEEDS...