ITR filing obligation due to savings deposit
This query is : Open
10 January 2025
If a parent gifts 60 lac via cheque to his adult son and the son deposits the cheque in his savings bank account, does the deposit trigger an ITR filing obligation for the recipient under *Section 139 (1) and rules 12 AB of the Income Tax Act, 1961.? The son has no taxable income.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Treatment of Renting of Villa
- House keeping and security services ITC can claim
- Error AIS modification submitted
- Tax payment deduction from house loan EMI
- DTAA India & UAE
- Issue with no residency during Jan, Feb, March 2025 due to diff. between US and India tax years.
- To Keep Records
- WHAT TO SELECT IN 27Q TDS RETURN ? PAYMENT TO NON-RESIDENT
- NRI as second account holder of resident account
- Regarding DTVSV application
- ITR filing obligation due to savings deposit
- Capital gain tax on gold mutual fund , ETF
- TDS deduction.
- GST on Land Lease From MIDC
- Leave taken during Extension period of Articleship
- Regarding TDS deduction before 15CA filing
- Reversal of Interest provision in case of MSME buyer
- Penalty under new section 271 of IT Act
- GST liability .
- GST LIABILITY on market yard
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert14 February 2025 -
Survey, Search and Seizure under Income Tax Act 1961
CA Hari Agarwal
CAclubindia
