RE:how to gift money
by Vikram Dahiya on Jul 10, 2008 09:47 AM Permalink
Good Article but falls short of explaining how Mr. Zero tax wala can gift his taxable salary to family members without paying tax on his own income which is say 13 Lacs in this case. It will be great if some one can say its possible. Thanks, Regards, Vikram Singh
RE:how to gift money
by Shiva Kumar on Jul 10, 2008 10:21 AM Permalink
Dear Vikram....its not possible. The author has painted some fantacy...could be explored only if your source of income is from business or other income and again if you can spare to invest Rs.5 lacs. Its not applicable / possible if your income of 13 lacs is from salary.
