06 July 2011
Dear friends, I want to give cash of2.50 lakh to my mother. She is house-wife / unemployed. My quwry is that whether the cash gift inlcuding interest would be clubbed / treated as my income for the purpose of taxation. If so, what is the wayout .. Pl advise... Thanks & regards
06 July 2011
if its a gift to mother it will be tax free... and dat money will den be property of your mother... so whatever income generated from such money will be your mothers income
CAclubindia
