Can brothers gift SIPs to sisters for Raksha Bandhan?
Brothers are unable to directly gift SIPs to their sisters because mutual fund regulations prohibit third-party payments from accounts not held by the SIP owner. Alternatively, for Raksha Bandhan, brothers can arrange payment mandates to transfer money into their sisters' bank accounts, allowing them to start their own SIPs. Any funds gifted by brothers to their sisters are exempt from taxes.
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