Pocket money
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 May 2012
pocket money received every month say Rs.5,000/- to Rs.8,000/- from mother / father to major son and no any taxable income to son what will be effect of tax to son and father.
04 May 2012
No effect. There is a case of PIN MONEY received by spouse. But "Father's Scholarship" .... no effect in Income Tax.
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