Gift to save tax to wife and mother

prakash (B.Com) (132 Points)

03 February 2018  

My taxable income is 5,50,000. I have transfered (via Netbanking) Rs. 1,00,00 to my  Wife or Mother .

Can I show it is gift and save my tax? if yes under which section ? How can i shown in ITR or Income Tax.

 

Male : Age 35 , Salereis Employee in Pvt. Ltd