I am a student. My father works in a PSU. If he transfers some amount temporarily (more than 2.5 lac) to my account from his Tax compliant Salary Account, then am I liable to pay tax.?
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Tax on temporary deposits to account from a fully tax compliant account
Replies (2)
since you are student and you do not have pan the transfer's wud not attract any tax
If you are receiving money from your father then no question of tax as your father is covered under Definition of Relative and any amount received from him would not be taxable in your hand.
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