Hi All,
I am an Individual(I) Tax Payer.
My question is,
If I give some amount of money I earned as a Financial Help to my family member like my Mother or own Sister, (both are Taxpayers, i.e have PAN)
1. will that amount still be counted as my Income and will it be taxable (when filing tax for that financial year)
OR
2. will that income add as taxable income for my mother or sister and for me it will not count in my Taxable Income
What are the current Indian Income Tax Rules for this ?
(The question is for FY 2011-12 and 2012-13)
Thanks in advance for answering my query.
-Arun
CAclubindia
