Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now

Monday, January 30, 2017

Tax on Gift Money received from Parents?

 

Tax implication on Gift Money received from Parents


Money received from parents as gift does not attract tax






Parents can gift any amount of money out of their taxable income to their children without any tax implication on the children.

Parents and children falls under the specified list of 'relatives' who are exempt under the Income Tax Act as recipients of gift money.

Therefore, in the example you have cited, the son will not have to pay any tax on the Rs 3 lakh gift amount. However, he will be liable to pay tax on any income derived from it.

------------------------------------
Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

Top 4 Tax Saver Mutual Funds for 2017 - 2018

Best 4 ELSS Mutual Funds to invest in India for 2017

1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. BNP Paribas Long Term Equity Fund



Invest in Best Performing 2017 Tax Saver Mutual Funds Online

Invest Best Tax Saver Mutual Funds Online

Download Top Tax Saver Mutual Funds Application Forms


For further information contact Prajna Capital on 94 8300 8300

------------------------------------

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Call us on 94 8300 8300

------------------------------------

 

Post a Comment
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now
Related Posts Plugin for WordPress, Blogger...

Popular Posts

Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now