Please help me with the following queries:
1) Can S.T. Capital gains on equity MFs(STT Paid) be off-set against S.T. Capital loss on Debt MFs of the same Financial Year?
2) I have received gift of money(thro' cheque) from my mother.Have I to disclose it under "Exempt Income-Others" (Schedule EI of ITR 2)?
3) My daughter has gone to USA to pursue her higher studies.In her absence from India,can I file the Returns for her as a "Representative Assessee"? If not,what are the options available?
4) Would my daughter be deemed to be an NRI if she stays in USA for more than 6 months as a student?(She has been a Resident Indian till now)
5) Can my mother give a gift(by cheque) to my wife or I receive a gift(by cheque) from my mother-in-law without attracting the Clubbing provisions ,i.e.,Will the gifts from a mother-in-law to either the daughter-in-law or son-in-law attract the clubbing provisions?
My heartfelt thanks for an early response.
Sundaram.
CAclubindia
