NRI income
This query is : Resolved
10 November 2008
sir,
my brother working in usa and send 12 lakhs to my account to purchase land on my mother's name but due to some reasons the regd is delayed and such amount was deposited on my dad name as short term deposit and earned 10.5% and now such income is taxable on my dad income r is it exempt. if i transfer such deposit to my mom name is there anything to show the source of income.
my brother working in usa and send 12 lakhs to my account to purchase land on my mother's name but due to some reasons the regd is delayed and such amount was deposited on my dad name as short term deposit and earned 10.5% and now such income is taxable on my dad income r is it exempt. if i transfer such deposit to my mom name is there anything to show the source of income.
10 November 2008
If the ultimate idea is to buy a property in your mother's name, it is better it is transferred back to your mother via your account, the same route through which it came to your father's account.As for source proof it is enough if you have a letter from your brother about remittance.
At present the interest earned is to be assessed as your father's.
At present the interest earned is to be assessed as your father's.
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
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Sales return eway bill
- REGARDING GST LIABILITY/....
- Suggestions required for income tax filing-software (FY 2025-26)
- Loan by Partnership Firm
- E way bill for tractors
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Free lancer income
- Long Term Service award taxability in hands of company
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
