Money received from parents from uk
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 April 2013
I am going to marry in 2 months & I have already received Rs. 600000 from my parents in F.Y. 2012-13 for marriage expense in my sbi account directly. my parents are UK citizen. They are now again going to send me another rs. 500000 to my account in f.y 2013-14. please explain me what is tax applicability on it? with section if possible
19 April 2013
Gift from parents is no taxable in the hands of the child u/s 56(2)(vii).
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
- Advantages and disadvantages new income tax act 2025 question
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
