Money transfer

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 August 2014 Sir,
I am a salaried person, I return my TAX correctly what ever be the income, recently my mother give me a cheque of above 75,000/-.
Now my question is there any problem, is it
an income ?. What is the solution, is there any problem, looking forward for your expert reply...
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
15 August 2014 transfer of money from mother to son/daughter creates no additional tax liability. it is not your income (exempted under section 56(2)
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