Clubbing and gift
This query is : Resolved
30 May 2014
Father invested in ppf of son and daughter. ppf have matured and got credited in Son and daughter saving account. So this is a case of gift from father.( correct me if wrong ) .. Son and daughter give the amounts as loan to third party and earn interest thereon. Father has to paid interest on educational loan of son. So question is whether son and daughter should transfer the interest amounts to father account ( in the form of loan or gift ) or any other way if you can suggest it would be great help.
30 May 2014
Sorry...what is the fear?.....son and daughter are covered under the definition of RELATIVE...isn't it?....pls explain your fear...may be i am not getting it properly...
30 May 2014
son and daughter earn the income and taxable in their hand. and intt. on education loan paid by the father and claim u/s 80E
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Refund Annexure-B
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- TDS Challan Code
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
