Tax implications
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 November 2013
A person belongs to Australia is adopted Indian child and going to send a huge money to that Indian child,
what are the tax implications?
Please let me know.
what are the tax implications?
Please let me know.
Nikhil Kaushik
(Expert)
19 November 2013
for the Indian child, under Indian tax law there is no tax implication as the said money shall be considered as received from a "relative".
CA Pallav Singhania
(Expert)
19 November 2013
Agree,
However any income generated on such money will be liable to be taxed in India as per normal slab...
However any income generated on such money will be liable to be taxed in India as per normal slab...
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