Advive please

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Rahul Bansal (Querist)
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10 September 2011 If a child gives money to his parents ,,,,,,,,,,,,whether it be considered as a gift or a loan......?

if consider as a loan.....then what will be tax implication ?

if consider as a gift.....tax implication ?

further those money then invested by his parents in shares ...what will be tax implication ?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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20 September 2011 You have to see the actual intention of the transaction.

The sum of money was given with an intention to recieve it back or was it given as a gift.

Anyways,there is no tax implication in both the cases.

Gift is exempt if received from a relative

Rahul Bansal

Rahul Bansal (Querist)
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21 October 2011 tnx. siddhartha........

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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09 March 2013 Gift is More Preferable Way to Route Money.

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