Forums › General Discussion › When you give gift to your child is it exempt from your tax
If I give gift to my children out of effection is it exempt from my income
Any gift by you to your children is not taxable in either of your hands. But if the child is minor (less than 18 years age) then any income generated out of such gift will be clubbed with the income of the parent who has higher taxable income.
You must be signed in to reply to this question.
Spelling mistake in PAN card, how to rectify?
Actual tax is less than TDS. What to do?
15G & 15H Form
Incomtax notice guidance required please guide.
How to Download Pan Card Soft Copy Online
Sign Up now and be a part of the TaxForum. Ask Questions, Get Answers, Share Knowledge, Participate and Win.
Click here to Sign Up
Already have an Account?