Paying collage fee 30 lakhs

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Ajay Reddy (Querist)
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03 October 2021 Hi
We need to pay fee for my brother medical collage 30 lakhs through rtgs or dd. We are getting money from relatives via transfers from bank account to my mother account. Will those transactions attract IT NOTICES . Please guide me

Thanks

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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03 October 2021 All transfers are through bank account and can be treated as gift. In case of any notice received reply can given as gift from relative exempt from tax.
See the amount received from relative defined as per income tax Act.

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