Taxable income

459 views 5 replies

I am a senior citizen surviving on the bank interest on the amount recd. as Provident Fund at the time of retirement. Total income thus earned during A Y 2015-16 is Rs. 1,61,980.00. In addition, my daughter is paying an amt. of Rs. 20,000/- p.m. for our subsistence out of her salaried income. Do I need to add this contribution from my daughter also in my total income for filing the reurn?

Biswas  

Replies (5)

Your daughter's salary is already taxed and out of that money she is giving Gift of rs 20000.  I dont think it should be taxed But i am not sure of this

Experts plz throw some light on this.

Thanks

Contribution by your daughter will not be taxed in your hands.

Do not include amount received from your daughter.... Section 56(2)(v) any amount received from relative shall not be liable to tax...

Thank you all for the replies.

Biswas

i think the amount given by daugther to father is application of money and it is already taxed in the hands of daughter . so we shall not include in the income of the father

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 24 June 2026
CA Article Trainee

Rahul Dang & Associates

Pune

CA Inter

View Details
Company
ARTICLESHIP 10 July 2026
Article Assistant

N S Gokhale & Co

Thane

CA Inter

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
ARTICLESHIP 27 June 2026
Article

SNCO

Mumbai

CA Inter

View Details
Company
06 July 2026
Accountant

Agarwal Anoop and Associates

Noida

CA Final

View Details
Company
ARTICLESHIP 07 July 2026
Articleship

Jawahar and Associates Chartered Accountants

Hyderabad

CA Inter

View Details