Comment on Taxation for Traders - Introduction
commented on
13 Oct 2013, 05:09 PM
I am a PSU employee. I want to gift money to my wife (housewife), son (student, age:24 yrs) and daughter (student, age:19 yrs), for trading in FnO. My queries are:
(1) Is this cash gift taxable? If yes, upto what limit it is tax-free and what is rate of tax beyond that.
(2) In addition to cash gift, can I take loan from my Office/Bank and loan it further to my wife/children for FnO trading ?
Devesh