Tax on gift from son

Tax queries 556 views 1 replies

I have a friend in USA whose parents are in India. In the Financial year 2011-12, he has sent his mother about  Rs 3,20,000 /- as gift.  His mother is 70 years old and her income on fixed deposit  and other investment is Rs 1,00,000/- . Will she be taxed if yes how much?

Swapan Baksi

Replies (1)

Yes, She will be taxed on the income which she earns from gift.


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