I am sponsoring my son for his master degree in abroad later i have advised him to repay ,If he repay later will it be taxable in India
Menu
Overseas Money transfer from son to Father
Replies (3)
Quick Summary
No. Treat the repayment also as gift.
Sir thank you for the reply is there is any limitations for the money transfer from overseas
Depends upon the rules of the overseas country from which the funds are transferred. No limit in receiving any money in India when transferred through any banking channel. Need to prove its source and that it is not taxable.
Recent Topics :
- On which amount 200% penalty under section 270A is
- RECEIVED INTIMATION U/S 399 FOR TDS PAYMENT ON PRO
- How do CA firms track SEBI/AMFI circulars and dead
- Jurisdictional validity of Sec 148 notice after fa
- Taxable Income or Not
- GST Input Tax Credit (ITC) on Camera Purchase &
- What makes CA Himanshu Singla different from other
- TAX TREATMENT AND ACCOUNTING ENTRIEOF PERQUISITES
- Gifting money to my father-in-law (my husband's da
- GSTR-1 JSON from marketplace exports (Myntra / Ama
Related Topics :
CAclubindia
