Advive please
This query is : Resolved
Rahul Bansal
(Querist)
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 ?
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 ?
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
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
(Querist)
21 October 2011
tnx. siddhartha........
CA Ayush Agarwal
(Expert)
09 March 2013
Gift is More Preferable Way to Route Money.
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