treatment of this transaction
This query is : Resolved
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
?
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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Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Note : If you find our reply useful. Click on THANK USER button to convey your appreciation.
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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