Transfer of money to son as a gift

You may gift any amount to your son. It does nnot attract any gift tax in your hand or your son's hand. If your son happens to be a minor, any earning out of investment made on such a gifted money will be clubbed to your income. Howevever, if your son is a Major, income out of investment of such money will be taxed in his hand.

Search Google "Gift to relatives Income Tax India". you will get your answers.

Both father andson would come within the  meaning of specified relations as per /Gift/IT act ND HENCE  ANY ANOUNT OF  GIFT TO ONE ANOTHERIN CASH OR KIND CAN BE GIVEN AND RECEIVED WITH TOTAL EXEMPTION FROM INCOME TAX BOTH INTH EHANDS OF FATHR ANS IN TH EHANDS OF MAJOR SON. bUT IF TH ESON INVESTSTHE SAME IN SOMETHING AND GET MONETARY RETURNSOUT OFIT IT WILLBE TREATED AS HI INOMEOUT OFTHAT VENTURE  AND WILL BE  ADDEED TO HIS TOTAL INCOME  ANDTAXED AS SUCH.If  you appreciate this answer please click the thank you buttonon  this forum.