https://www.taxtmi.com/forum/issue?id=105684 Gifts to an adult son or daughter are not subject to a statutory monetary limit; once transferred, income from the gifted assets is the recipient's and not clubbed with the donor's income. For bank fixed deposits declared by the donor, a safer method is premature encashment and re deposit or transfer in the donee's name rather than relying solely on a gift deed and bank notice. A nonresident donee must declare and pay Indian tax on income accruing or arising in India, although no Indian tax is payable if total Indian taxable income is below the exemption threshold. en-us Thu, 16 May 2013 10:49:28 +0530 Thu, 23 Jan 2025 15:57:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=105684 Gifts to an adult son or daughter are not subject to a statutory monetary limit; once transferred, income from the gifted assets is the recipient's and not clubbed with the donor's income. For bank fixed deposits declared by the donor, a safer method is premature encashment and re deposit or transfer in the donee's name rather than relying solely on a gift deed and bank notice. A nonresident donee must declare and pay Indian tax on income accruing or arising in India, although no Indian tax is payable if total Indian taxable income is below the exemption threshold. Discussion-Forum Income Tax Thu, 16 May 2013 10:49:28 +0530 https://www.taxtmi.com/forum/issue?id=105684