Which section talks about Gifts to major children exempt from tax ?

POSTED BY chrysann fernandes ON March 4, 2014 6:40 pm ONE COMMENT

I read your blog , it said you could gift a large amount like 25,00,000 to major children and save tax as the interest received by the major children wont be treated as income since it is a gift.

Kindly quote the sections. I googled alot but could find any section supporting the above example u gave.

Thank You 

One reply on this article “Which section talks about Gifts to major children exempt from tax ?”

  1. ashalanshu says:

    Dear Chrysann, please read the section 64 of Income Tax Act of India.

    Thanks

    Ashal

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