Gift deed
This query is : Resolved
13 January 2014
I am a ca final student and want to know if a person want to gift rs 300000 to his father from salary income.can he get tax relief.and what are formalities required to done in gift deed.and if that amt deposited in fd,thn intrest income will be clubbed or not.? Sir pls help me
13 January 2014
Hi,
No benefit is available in IT for giving gift to father for getting tax relief.
He can directly give gift & make a deed in black & white.
Clubbing provision would attract if father is dependent on him.
Thanks
No benefit is available in IT for giving gift to father for getting tax relief.
He can directly give gift & make a deed in black & white.
Clubbing provision would attract if father is dependent on him.
Thanks
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