MONEY FOR MAINTENANCE

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sundeep (Querist)
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02 August 2020 Whether my NRI son can send me money from the US towards my maintenance. what are the tax implications? what is the max limit, etc. please answer with as many details

CA KARAN SINGH

CA KARAN SINGH (Expert)
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02 August 2020 There will be no Tax Implications. As the money transferred by you will be treated as a gift given to you and as per proviso to Sec 56(2)(x), the gift is not taxable if exchanged among relatives. Also, there is no limit on transferring the amount.

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sundeep

sundeep (Querist)
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03 August 2020 within India (residents)how much max cash gift can be given in relatives?

CA KARAN SINGH

CA KARAN SINGH (Expert)
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03 August 2020 I think i have resolved your query with another question you asked. Still, I would say there is no limit of exchanging gifts among relatives. But relatives should be those persons or members of the family which are defined in Sec 56(2) of the Income Tax Act.

sundeep

sundeep (Querist)
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27 June 2025 THANKS......................................................................

sundeep

sundeep (Querist)
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27 June 2025 THANKS......................................................................

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