Money received in account
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 June 2015
My son (working abroad)sends me money in my bank account in India or sometimes transfers money through his bank account in India to my bank account. Is this account considered my income and is it taxable?
27 June 2015
It is not taxable. Gift to relatives is exempted from tax.
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