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Interest income

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 August 2016 If I gift my interest income to mothe who is non earner, will it be texemptedax from my income.
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ALKESH T MEHTA

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ALKESH T MEHTA (Expert)
11 August 2016 Interest income is taxable in the hands of receipant & therefore you are liable to tax,if your income is more than Rs.250000/-p.a.

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