Is clubbing applicable on gifted shares?

Income Tax Income from Capital Gains
42

Hello sir, very thanks in advance
Please resolve my below query

  1. Son gift money to mother , and mother use that money for swing trading and few extra activities and earn some profit . And after that she gift money back to her son. Whats provision applied in such scenario.
  2. And 2nd thing son gift 5 lakh to mother and mother had already good amount in her own balance.and she trade with 2 or 3 lakh .
  3. Can still I have to be justifiy above mentioned gift transfer for clubbing.
  4. And are there any limit in gift transaction between relatives, I mean number of transaction, not amount.

I waiting your kind reply

43

First of all very thanks for your kind reply.
Mam please Take a glance once more on my query and please answer remaining part of my query.
I mean, It’s very clear that clubbing provision and limitations are not applicable between very near relatives, in my query Mother and son ,
But mam are It’s not fall in clubbing provision if mother do trading and earning. Hence mother report all his gain as per income tax law. And is it mandatory or any provision like Gift deed or any other gift transfer relative documents to be draft.
Thanks and regards again