Mihir Modi retweetledi

The viral “₹0 tax on ₹4L stock + ₹2Cr MF gains via family gifting” post is classic rage-bait. Sounds genius, but contains major mistakes:
1. Gifting shares to wife? Clubbing applies u/s 64. Gains taxed in husband’s hands. Wife’s ₹1.25L exemption doesn’t help.
2. Only gifting to sister works (no clubbing). So the “zero tax” claim on stocks is wrong.
3. Gifting MFs to mother for Section 54F (to bypass 2-house rule) looks like a colourable device. GAAR can ignore it, tax the son + penalties.
Smart planning is fine. Pre-planned artificial structures purely to evade tax? High risk of scrutiny.
Always consult a CA. WhatsApp tax gurus can be expensive 😅
#TaxPlanning #IncomeTaxIndia
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