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Gift

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(Querist)
17 November 2017 Dear Expert.If Father sold some plot. can give 50 Lac amount as a Gift to his son then can we show Gift expenses in the books of Father account.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
17 November 2017 Not an expense being money given out of love and affection to son with out
consideration.
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Anand

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Anand (Expert)
17 November 2017 The father cannot claim the gift given to son as a deduction from the taxable Capital Gains, if any.
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Amol S Joglekar

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Amol S Joglekar (Expert)
17 November 2017 father can very well gift the amount. But it is NOT regarded as expenses

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