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money from abroad by son
my son wants to send money in my account in indian bank from ireland where he doing job ...he paid income tax as per laws of ireland on his salary.....should tax have to be paid by me too in india ...whats the rule n which section for it ..pl guide
Replies (3)
no you don't have to pay income tax in India.
while funds transferring from son to you, specify reason as for Family assistance
while funds transferring from son to you, specify reason as for Family assistance
the transfer of money from your son can be treated as gift and gift from relatives (son is a relative as per definition enumerated in 56(2)) is exempted under section 56(2)
thanks
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