Residential status
This query is : Resolved
sakshi bansal
(Querist)
02 October 2011
hiiiiiiiii
if an NON RESIDENT of INDIA gives some money exceeding taxable limit, to his parents who are resident of india.....
so is this incoome taxble(in india) in the hand of his parents...if he does payement
1) in cash
2) transfer to their account
if an NON RESIDENT of INDIA gives some money exceeding taxable limit, to his parents who are resident of india.....
so is this incoome taxble(in india) in the hand of his parents...if he does payement
1) in cash
2) transfer to their account
CA Ayush Agarwal
(Expert)
02 October 2011
No, This is Not Taxable in Hands of parents as Gifts from Relatives as per income Tax rules.
sakshi bansal
(Querist)
02 October 2011
it wont even charged u/h other sources coz its exceeding 50000????
CA Ayush Agarwal
(Expert)
02 October 2011
There is No limit in case of Relative of 50000
sakshi bansal
(Querist)
02 October 2011
ohk can v tret dis as remittence and even by dis foreign currency is cumin
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