Hi Manish,
I am Amol Navale. I am from HUF. I wanted to give Rs. 1,00,000 amount to my parents as a gift.
My queries are:
1. Is this amount tax free for me?
2. If yes, then under which section?
3. Which process I have to follow to give this gift so that it is tax free for me?
4. Which proofs and documents I have to give to my company so they will not cut my salary as TDS.
Please help me on this.
Regards,
Amol.