Tax on money received in bank from foreign residing daughter

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Ankul Maheshwari (Querist)

05 February 2014 Dear CA Club Members,

i want to know the tax implication in this case:

If a daughter who is residing in US and sending Rs. 30,000/Per Month to her mother for her personal use

will mother need to pay any tax on this cash receiving from daughter although daughter is already paying tax on her income in United state.

Will be there any TAX related responsibility on Mother. or she is not suppose to pay any tax on that money ??

Plz Help....

Best:
Ankul Maheshwari

P V Ram

P V Ram (Expert)

05 February 2014 Amount received as gift in foreign currency is non taxable. Hence, no tax.

Thanks!

AVTAR SINGH

AVTAR SINGH (Expert)

05 February 2014 Any amount received as gift from daughter is exempt whether received in foreign currency or Indian Rupees.

Ankul Maheshwari

Ankul Maheshwari (Querist)

05 February 2014 Thanks for your valuable responses.

will these thing vary based on status of the daughter i.e Non-residential Indian (NRI), Person of Indian origin (PIO), Oversea citizen of India (OCI) ete.

Plz suggest ..

Best:
Ankul

P V Ram

P V Ram (Expert)

05 February 2014 Immaterial Please!

AVTAR SINGH

AVTAR SINGH (Expert)

05 February 2014 Status is immaterial but you will have to prove the relationship and the source of income of daughter.

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