Is the money donated to kids taxable

If parents donate money to their kids, is this amount taxable for the kids. Is this amount seen as an income form other sources for the kids. Example - 30 Lakhs donated from mother?

Sep 27, 2016 by Ravishankar, Pune  |   Taxation

Money can be gifted to kids and it is not taxable either to the parents or the kids. However, the earnings received from the amount will be taxable (depending upon the investment nature and tenure) and shall be clubbed with the earning of the parent.

Thanks.

View All Queries
Search
You haven't found the answer for your queries? Do post your queries to us.
POST A QUERY
Axis MF Momentum Fund NFO 300x250

Recent Queries

See MoreMore

Fund News

See MoreMore

Tools and Calculators

HSBC MF SIP Top UP 300x600
Feedback
Notification