28 August 2024
Hi, My daughter of 3 years (Minor) on her birthday has received cash gifts ranging from Rs. 2,100 to Rs. 5,100, totalling to approx. Rs. 29,000. 1. Can I deposit the same amount in her bank account tomorrow, means the day next to her birthday ? 2. Any proofs to maintain for the same or any document ? 3. Income Tax implication for the same ? 4. Any other thing to keep in mind ?
CAclubindia
