Updated: 04 Nov 2022, 01:37 AM IST
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Investing in stocks or other financial instruments… MoreInvesting in stocks or other financial instruments in your name increases your tax liability and can put you in a higher income tax band. For more usage, you can take a little detour on the investment. Individuals in India can save tax in various ways under various provisions of the Income Tax Act. Giving stock to your kids and parents is one way to save money on taxes. On the other hand, experts recommend investing gifted money as it not only saves tax but also generates tax-free income under several sections of the country’s IT laws. Let us discuss the different ways in which you can give shares and how the government taxes them.