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Tax implications

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 November 2013 A person belongs to Australia is adopted Indian child and going to send a huge money to that Indian child,
what are the tax implications?
Please let me know.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
19 November 2013 for the Indian child, under Indian tax law there is no tax implication as the said money shall be considered as received from a "relative".
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
19 November 2013 Agree,
However any income generated on such money will be liable to be taxed in India as per normal slab...
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