Gift
This query is : Resolved
19 February 2010
This family friend of ours is planning to gift us Rs.100,000.
He is planning to do this via a bank transfer into my mothers account. He has no blood relation with my mother. Will this income be taxable?
can this be shown as a loan? or a gift?
or is it better to just take the money in cash?
thanks in advance for the help!
He is planning to do this via a bank transfer into my mothers account. He has no blood relation with my mother. Will this income be taxable?
can this be shown as a loan? or a gift?
or is it better to just take the money in cash?
thanks in advance for the help!
20 February 2010
it will be taxable in hand of mother
26 February 2010
it will be taxable in hand of mother in case of gift
26 February 2010
Agreed
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