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Will gifts help avoid tax?

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Alexy
 Getting money from my parents for buying a house taxed?
by Alexy on Jun 28, 2005 10:27 AM

I want to buy a house on my name only and don't want to take much loan. If i will take some amount (5-10 lacs) from my parents how can i do it without paying any taxes. Can i show it as a gift ?

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