FOREIGN INCOME
This query is : Resolved
07 March 2020
RESPECTED SIR,
MY QUERY IS THAT MY BROTHER WHO HAVE JOB IN LONDAN. HE WANT TO DEPOSITE SOME AMOUNT IN MY ACCOUNT OR SOME AMOUNT IN MY WIFE ACCOUNT. WHETHER WE ARE LIABLE FOR TAX FOR SUCH FOREIGN INCOME
MY QUERY IS THAT MY BROTHER WHO HAVE JOB IN LONDAN. HE WANT TO DEPOSITE SOME AMOUNT IN MY ACCOUNT OR SOME AMOUNT IN MY WIFE ACCOUNT. WHETHER WE ARE LIABLE FOR TAX FOR SUCH FOREIGN INCOME
07 March 2020
No.Not liable.
Only Income is chargeable to Income Tax
08 March 2020
Such gift to relative exempt from income tax.
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