Hello, Please let me know if I can send some funds into my retired father in law's account for routine survival expenditures - cost of living, groceries, doctor visits, etc. My father in law is retired, with no income and my mother in law is house wife. Is there any tax implication on him or me?
Menu
Funds to Father in Law
Replies (3)
Quick Summary
No. There will not be any tax implementation on either of you, as the gift received from son/daughter in law is exempted under income tax act, u/s. 56(2).
| Originally posted by : Dhirajlal Rambhia | ||
 |
No. There will not be any tax implementation on either of you, as the gift received from son/daughter in law is exempted under income tax act, u/s. 56(2). |  |
Is a gift deed must between the two?
Here it is routine maintenance expenditure, so would not be very big amount, all through bank transfer. So. Gift Deed not needed.
Recent Topics :
- Clarify on GST Application
- Residential status for overseas students visitin
- Capital Gains Tax
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
Related Topics :
CAclubindia
