Will inward remittance from daughter attract tax?

Tax queries 547 views 1 replies

My daughter is married and settled in USA.  I mortgaged my house and took loan to meet her education expenses. I have cleared the bank loan. My daughter keeps sending money from US but  not regularly. i am employed. Will I attract IT for the amounts sent by daughter .

Will someone answer at the earliest.

 

Replies (1)

It will not attract the income tax .

As per section 56 any sum of money or property  received from relative is not taxable in the hand of receipent under income from other sources.


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