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income tax exemption

pori (se) (53 Points)

08 December 2009

can anyone please let me know abt this

i have given some amt i earned to my family member as a gift can i show it my i.t. declaration for tax exemption is it possible

regards

kumar

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3 Replies

CMA Ramesh Krishnan (Cost & Management Accountant) (71489 Points)
Replied 08 December 2009

Please tell me what nature of Income you are getting,

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pori (se) (53 Points)
Replied 09 December 2009

actually im a salaried professional working in bank

pori (se) (53 Points)
Replied 09 December 2009

so we cannot show this amt in income tax declaration form .

i have given say 50k by fundtransfer from my account to my dependent elder family member.

is there any possibility for tax deduction for the amt and can we show in declaration the amt we spent (money) for the operation medicalls of family memeber for tax dedeuction