Transfeing of money to mother in law
This query is : Resolved
30 July 2018
Hi ,
My wife is house wife and doing small activities i.e. Tuition etc . In her initially career , she usually took the help from my mother . Now ,she is stable and return back there money who is senior citizen now . My Quarries are ,if she transferred 10 lacs , it is taxable to my mother hand ?
Thanking you .
My wife is house wife and doing small activities i.e. Tuition etc . In her initially career , she usually took the help from my mother . Now ,she is stable and return back there money who is senior citizen now . My Quarries are ,if she transferred 10 lacs , it is taxable to my mother hand ?
Thanking you .
CA R SEETHARAMAN
(Expert)
30 July 2018
Not taxable gift to relative exempt.
KAVIRAJA ADDANGADI
(Expert)
30 July 2018
No, it's not income you can either treat loan return or gift.
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