Tax on Gift Money received from Parents?

 

Tax implication on Gift Money received from Parents

Money received from parents as gift does not attract tax

Parents can gift any amount of money out of their taxable income to their children without any tax implication on the children.

Parents and children falls under the specified list of 'relatives' who are exempt under the Income Tax Act as recipients of gift money.

Therefore, in the example you have cited, the son will not have to pay any tax on the Rs 3 lakh gift amount. However, he will be liable to pay tax on any income derived from it.

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Top 4 Tax Saver Mutual Funds for 2017 - 2018

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1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. BNP Paribas Long Term Equity Fund

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For further information contact Prajna Capital on 94 8300 8300

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IDBI Prudence Fund

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2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

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Invesco India Dynamic Equity Fund Dividend

Invesco Mutual Fund has announced dividend under the following schemes:

Scheme	Dividend (Rs /unit)
Invesco India Dynamic Equity Direct-D	0.11
Invesco India Dynamic Equity-D	0.11

The record date has been fixed as January 30, 2017.

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Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

Top 4 Tax Saver Mutual Funds for 2017 - 2018

Best 4 ELSS Mutual Funds to invest in India for 2017

1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. BNP Paribas Long Term Equity Fund

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For further information contact SaveTaxGetRich on 94 8300 8300

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ICICI Pru Value Discovery Fund

Invest ICICI Pru Value Discovery Fund Online

Schemes which follow a combination of contrarian and value kind of investing would serve well investors who have been looking for prudent investments in present markets conditions.

Among the schemes which have consistently followed this style of investing and have justly rewarded investors with noteworthy performance is ICICI Prudential Value Discovery Fund. In the past five and 10-year periods, the scheme has delivered 23.5% and 16 % returns while its benchmark BSE 500 has delivered 12.8% and 7.7 % returns, respectively, in the same periods. This outperformance can be attributed to the stockpicking strategy of the scheme and its exquisite implementation by its fund manager Mrinal Singh, who has been with the scheme for the past five years. The scheme looks for those companies which not only have growth potential but also are attractive on financial ratios such as price to book value and relative market capitalisation. The scheme is not fixed about the market capitalisation of companies in the portfolio. A large part of the scheme (over 60%) is invested in large-sized companies while the remaining portfolio is divided between mid-and small-sized companies.

In the past six months (ending October), the scheme has invested in companies which to a large extent come under the defensive theme. Companies such as Sun Pharma, Wipro, Infosys and HDFC Bank are the ones in which the scheme has enhanced its exposure. Also companies where there has been little valuation comfort, the fund manager has promptly exited. These companies are ONGC, Hero MotoCorp and Tata Motors.

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Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

Top 4 Tax Saver Mutual Funds for 2016 - 2017

Best 4 ELSS Mutual Funds to invest in India for 2016 - 2017

1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. BNP Paribas Long Term Equity Fund

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

Invest Best Tax Saver Mutual Funds Online

Download Top Tax Saver Mutual Funds Application Forms

For further information contact Prajna Capital on 94 8300 8300

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HDFC Capital Protection Oriented Series Dividend

HDFC Mutual Fund has announced dividend under the dividend option of the following schemes:

HDFC  Schemes Dividend

HDFC Cap Protection Oriented Ser II 36M Jan 2014 Reg-D

 

The quantum of dividend will be the entire distributable surplus as on the record date.

The record date has been fixed as January 30, 2017.

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Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

Top 4 Tax Saver Mutual Funds for 2017 - 2018

Best 4 ELSS Mutual Funds to invest in India for 2017

1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. BNP Paribas Long Term Equity Fund

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Invest Best Tax Saver Mutual Funds Online

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For further information contact SaveTaxGetRich on 94 8300 8300

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Franklin Templeton Mutual Fund Dividend

Franklin Templeton Mutual Fund has announced dividend under the following schemes:

Scheme	Dividend (Rs/unit)
Franklin India Bluechip-D	3.5
Franklin India Bluechip Direct-D	3.5
Franklin India Dynamic PE Ratio FoF-D	0.44274845
Franklin India Dynamic PE Ratio FoF Direct-D	0.44274845

The record date has been fixed as January 27, 2017.

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Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

Top 4 Tax Saver Mutual Funds for 2017 - 2018

Best 4 ELSS Mutual Funds to invest in India for 2017

1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. BNP Paribas Long Term Equity Fund

Invest in Best Performing 2017 Tax Saver Mutual Funds Online

Invest Best Tax Saver Mutual Funds Online

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For further information contact SaveTaxGetRich on 94 8300 8300

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HDFC FMP

HDFC FMP 1199D January 2017 (1), a Plan under HDFC Fixed Maturity Plans - Series 37, a Close-Ended Income Scheme, which has a potential to reduce tax on long term capital gains by availing indexation benefit over 5 financial years

This product is suitable for investors who are seeking *

 

• regular income over 1199 days (tenure of the Plan)
• investment in debt and money market instruments and government securities

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Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

Top 4 Tax Saver Mutual Funds for 2017 - 2018

Best 4 ELSS Mutual Funds to invest in India for 2017

1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. BNP Paribas Long Term Equity Fund

Invest in Best Performing 2017 Tax Saver Mutual Funds Online

Invest Best Tax Saver Mutual Funds Online

Download Top Tax Saver Mutual Funds Application Forms

For further information contact SaveTaxGetRich on 94 8300 8300

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