Can my mother calim Tax exemption when gifting gold to grandchildren ?

POSTED BY midhunlalg ON February 8, 2014 9:39 am COMMENTS (2)

Hi folks,

My mother is a senior citizen and a pensioner. She will come under 10% tax bracket. She doesn’t have any investments right away. She has gifted gold coins to her minor grandchildren. Can she claim this for tax exemption?

Could you please tell me other options for senior citizens to avail tax exemption?

Regards,

Midhun

2 replies on this article “Can my mother calim Tax exemption when gifting gold to grandchildren ?”

  1. midhunlalg says:
    February 10, 2014 at 11:37 am

    hmm. That’s sad. Thanks Ashal for clarifying.

    Reply
  2. ashalanshu says:
    February 9, 2014 at 5:26 am

    Dear Midhunlalg, sorry but from such gifting your mother can not claim any tax benefit.

    Thanks

    Ashal

    Reply

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