POSTED BY July 18, 2011 3:27 pm COMMENTS (4)ON
Please can anyone explain in detail about Gift and rebate on the cash gift that is given to the relatives?
1. Can i give more than 50K to my fahter/mother and get tax rebate on it?
2. Is rebate applicable to gift for non-relatives?
3. Money Today (July issue) states that if you’ve 80+yrs old parents and tow major daughters, you can gift around 1.88 crore in cash and save aroun 10-15lac in tax. is it true?