Can I save tax by gifting some money to parents ?

Is this possible ?

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I think not possible.
Company is giving to salary you and also informing that same thing to incometax department also.
Income tax department have all the details for which is created to account if you company has already share this details with them.
So when file your return you have to show your income.

You can save tax by paying for their medical expenses if they are dependent on you & have no other source of income.

No. It's not possible!

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