Gift Income News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Stay updated with breaking news from Gift income. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.

Top News In Gift Income Today - Breaking & Trending Today

Will home purchase by mother using NRI son's money face tax?


Will home purchase by mother using NRI son’s money face tax?
×
My son is an NRI and he wants to gift his earnings to his mother, who is a housewife and has no income. She wants to invest the amount in a residential site in her name. Please let me know tax implications on both the mother and son. Also, should she file I-T return on account of this?
LAKSHMISHA
Gifts will not attract income tax in the hands of the donor. Further, it will not attract taxation in the hands of the recipient if gifts are received from a relative as defined under the income tax act. ....

Ashish Ladha , Income Tax Act , Financial Year , Capital Gains , Gift Income , Tax Exemption , ஆஷிஷ் லாத , வருமானம் வரி நாடகம் , நிதி ஆண்டு , மூலதனம் ஆதாயங்கள் , பரிசு வருமானம் , வரி விலக்கு ,