https://www.desidime.com/discussions/tax-on-gifting-money?page=1#post_9177616
With limited knowledge
I feel that
Tax Slab won't change for A tax need to pay same
Intrest from investment As PER Tax slab of B
Tax on gifting money
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Hi,
If "A" transfer money to one his/her retired parents B's account... lets say 'A' bank transferred 10 lac rupee , 'B' invests that money in some instrument like say in dividend stocks , so dividends received by 'B' will be taxed under A's tax bracket or B's tax bracket ?
Some youtube videos suggests that any money transferred to PARENTS(unlike wife,child ) account does not follow clubbing of income rule . so dividend will be taxed under B's tax bracket .
My CA told me clubbing of income will be applied evenif we gave money to parents account but CA on youtube claim otherwise. My CA is confused so I am 😄 , anyone know how this works ?
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https://www.desidime.com/discussions/tax-on-gifting-money?page=1#post_9177619
A to wife clubbing. A to parents and children not clubbing. Doing what you have mentioned will not reduce a's tax liability.
https://www.desidime.com/discussions/tax-on-gifting-money?page=1#post_9177630
youtuber CA is right, no idea how your CA is confused about it, clubbing between 'parent' & 'adult child' is not mentioned in whole income tax at all
https://www.desidime.com/discussions/tax-on-gifting-money?page=1#post_9177641
kukdookoo wrote:A will not be liable to pay taxes of dividend na !!
A to wife clubbing. A to parents and children not clubbing. Doing what you have mentioned will not reduce a's tax liability.
Taking in consideration that A paid tax of gifted amount according to their slab.
https://www.desidime.com/discussions/tax-on-gifting-money?page=1#post_9177643
Table ke niche 0 tax
https://www.desidime.com/discussions/tax-on-gifting-money?page=1#post_9177762
No clubbing of income arising out of monetary gifts between parent and adult child (married female child not applicable)...
https://www.desidime.com/discussions/tax-on-gifting-money?page=1#post_9177855
https://www.desidime.com/discussions/tax-on-gifting-money?page=1#post_9177999
It's high time you change your CA.
CA getting confused with YouTube videos, it can't go lower than this.
https://www.desidime.com/discussions/tax-on-gifting-money?page=1#post_9178642
If Money gift is given to relatives , than no tax , if given other than relatives than gift tax applicable to reciever combined with Income tax slab
later if sum receives returns on investment , interest tax liability on the receiver .. The giver has no liability in any case
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