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Taxable pocket money from my father
Dear Sir/Madam,
My father gives me pocket money on a monthly basis and that money is transferred through his bank account to mine via online transfer.
Is this money taxable to my father also apart from me, "If I use a part of this money for trading in the share markets."
Replies (1)
Whether its pocket money, or gift from father, no taxability to either. You can invest or expend as per your wish, no restriction.
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