Money received from specified relative


(Querist)
16 May 2019
Sir

My real sister having US citizenship, was to come to India,for wedding purchases in India ,for her Son's marriage which was to be performed in US only. While coming and during her stay with me for that purpose of wedding purchases , her spouse , transferred some amount to meet up her purchases expenses, in my saving a/c here in India, from US, in dollars, but was credited in my saving a/c in India in Rs.

She spent all money which was earlier sent by her spouse,on her purchases here , and went back to US

Query:-
1. Is there any requirement to report this transaction when it is neither an income nor a gift , in ITR 1 or 2 .( individual )

2.How this receipt can be seen in ITax Act otherwise.

Pls take-up this query.



CA R SEETHARAMAN (Expert)


Click to Talk 16 May 2019
1 No requirement to report in ITR as it is neither an income nor a gift.
2 Money transfer between relatives.

rmalhotra (Querist)
16 May 2019
Thank you sir . You are great. Good wishes for you.

CA R SEETHARAMAN (Expert)


Click to Talk 16 May 2019
Welcome.............................................


You need to be the querist or approved CAclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :






×
close
CPA
Get Income Tax App    |    x