Welcome to Investmentkit.com Q&A, where you can ask questions related to investments & savings and receive answers from experts & other members of the community.
0 like 0 dislike
I want to gift cash to my son and if he invests that money in income generating instrument, can income generated from that money be clubbed with my income or it could be his income.He is a student and does not get any income.Kindly advise me.
asked in Loans by

Please log in or register to answer this question.

2 Answers

1 like 0 dislike
The income generated by that money from your son will be counted in his income and not yours.

The following link will also help you to understand better.
http://www.investmentkit.com/articles/2011/01/reduce-your-income-tax-by-gifting/

Hope it will help you.
Admin
http://www.InvestmentKit.com
answered by (48.8k points)
1 like 0 dislike
Just wanted to add 2 cents more here. If your son is a minor, his income will be added to your income for income tax point of view.

Hope it will help you.
Admin
http://www.InvestmentKit.com
answered by (48.8k points)

Related questions

0 like 0 dislike
1 answer
0 like 0 dislike
1 answer
0 like 0 dislike
1 answer
0 like 0 dislike
1 answer

Do you like this website? Get future updates via our Free newsletter.

Email ID:

 Privacy and Disclaimer  

 www.InvestmentKit.com

...