treatment of this transaction

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vijay bansal (Querist)

31 May 2016 hey guys ak query ka answer karna agr mother apne son k Credit card ki payment karti h kya vo son ki income hogi monther n us income ko taxable liya hai nd son major job person h just apne mother ki internet banking se apne card ki payment karta h kya vo payment son ki income hogi ?

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)

31 May 2016 No it is not his Income, it is not taxable. You can treat it as a Gift.

Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615

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Rupesh Jain

Rupesh Jain (Expert)

01 June 2016 no, this payment of the exp. and if you have doubt regarding the query may raise by the IT deptt. you can take proof of bill you make payment from your mother a/c. then you explain that thing make sure that the fund use for car payment will be genuine.

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