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pawan (Querist) 11 November 2012 This query is : Resolved
Sir,
Please advice me that
1.if I give Rs. 2lacs to my children as gift ,will we all be taxed?
2.If I purchase E-gold & keep the portfolio for 5years then under which IT section I will be taxed & at which slab? Is there any capital gain tax ?

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Devajyoti Barman (Expert) 12 November 2012
Speak with your tax consultant.

V R SHROFF (Expert) 12 November 2012
CA can guide u better

ajay sethi (Expert) 12 November 2012
mr visal is tax expert from LCI send him a PM

Raj Kumar Makkad (Expert) 19 November 2012
In both the conditions, you are not liable for taxation. Gift tax is not aplicatble in the given case and similarly if you purchase gold out of your saving, it is not attracted for taxation as tax has already been paid by you over your income.

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