Gift are eligible for tax deduction

Income Tax
,
1

If I will gift someone is it available for tax deduction

2

No, there is no provision in income tax wherein you can claim deduction for the gift given to someone else. Hope this clarifies.

Thanks,
CA. Pulkit Garg

1 Like
3

Gifting is a personal expenditure and thus, it is not available as a deduction under Income tax.