Please Help: tax saving
Posted Date : 25-Jul-2017 , 05:16:27 pm | Posted By: Aprajita
Category :
Income Tax | Answers :
0|
Comments :
2| Hits: 409
|
|
If an individual having salaried income gift some money to his parents (suppose give rs 1 lakh to his parent). Now can he claim tax exemption of rs 1 lkh in his ITR.? |
 |
|
|
|
| Comments |
| Posted By : Prakhar Pratik |
03-Aug-2017, 01:25:25 |
| No, He cannot claim exemption in his ITR
If he gives it to LIC he can claim exemption u/s 80C
Gift is not exempted,only if he gifts 50000 or lessor, then he can claim exemption up to 50000
Now he can't take exemption for the sum. |
| |
| Posted By : Sanket Garg |
27-Jul-2017, 09:23:06 |
| No he can not claim tax exemption. |
| |
|
|
|
|
|
