Income by son from gift received from Parents
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 January 2011
What is the tax effect of income generated from Gift received from parents by son who is major and holding PAN and Tax has been deducted from Income so generated.
Thanks and awaiting valued opion from our experts
Thanks and awaiting valued opion from our experts
Guest
Guest
(Expert)
10 January 2011
Income will be taxable in the hands of son only.
12 January 2011
the ioncome will be clubbed with sons income as the source of income is in sons hands
Guest
Guest
(Expert)
13 January 2011
Still, Is there confusion ?
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