Income tax
srinivas
(Querist) 17 August 2021
This query is : Resolved
my self and my wife have investments in many mutual funds . as both of us are in 30% tax bracket ,can we give some of the funds as gift by making gift deed/deeds to our daughter who is still in the lowest tax bracket . will it invite any legal issues and taxation issues for us. since some folios are in single names and some are in joint names ,do we have to make separate giftdeeds as per our mutual fund folios . is yes what will be the charges per gift deed in maharashtra
Dr J C Vashista
(Expert) 18 August 2021
Post this query in CA club if you want obligation otherwise it would be appropriate to seek professional consultancy.
kavksatyanarayana
(Expert) 18 August 2021
Even you gift, Gift Tax will be levied. So follow the advice of the above learned expert Mr. Vashista Sir.
