Tax complication when received my money which was given to relative without consideration on their n
This query is : Resolved
04 November 2024
Sir
I have given Rs 5 lacs on different dates to three persons without any consideration as details below :- 1 .my sister in law's husband
Rs. 2 lacs(saddhu bhai)
2. My sister in law's son 2
lac
3. My sister in law 'a daughter 1 lac for 3-4 months period on occuussion of marriage of her daughter and for their house construction.
All the above transaction made through online through phone pe
Question is that after 4 months they will return my
money through digital transactions.
Please confirm
1. Whether it is ok
2. Any tax complication will arise when I will receive my money from only one person ie from my saddhu bhai (they are going to retire after 4 months and after receiving his superannuation money from govt they will return my money)
Regards
CD SHARMA
🙏
I have given Rs 5 lacs on different dates to three persons without any consideration as details below :- 1 .my sister in law's husband
Rs. 2 lacs(saddhu bhai)
2. My sister in law's son 2
lac
3. My sister in law 'a daughter 1 lac for 3-4 months period on occuussion of marriage of her daughter and for their house construction.
All the above transaction made through online through phone pe
Question is that after 4 months they will return my
money through digital transactions.
Please confirm
1. Whether it is ok
2. Any tax complication will arise when I will receive my money from only one person ie from my saddhu bhai (they are going to retire after 4 months and after receiving his superannuation money from govt they will return my money)
Regards
CD SHARMA
🙏
04 November 2024
1. Yes, Ok.
2. Better to get it as per the concerned parties, rather than from one single person.
2. Better to get it as per the concerned parties, rather than from one single person.
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