Income tax liability on money received from daughter staying in US

Hello, I am 58 yrs old and a pensioner. I pay tax on the pension and some other earnings I have currently. If my daughter residing in USA transfers say Rs.10,000/- per month to my SB a/c in India. Do I need to show this amount of Rs 1,20,000/- (along with my other earnings and pension) while filing the IT returns ? Do I need to pay tax on the combined income ? Would be very grateful if somebody replies ASAP.

asked Jul 22 '12 at 13:34 by Kkpk 12

No need to pay any income tax on these transfers.

Consider this as gift and there is no income tax on gift from daughter.

answered Jul 23 '12 at 16:49 by Pankaj Batra 5.2k320


Know someone who can answer? Share a link to this question via Email, Twitter, or Facebook

Your answer
toggle preview

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

  • *italic* or __italic__
  • **bold** or __bold__
  • link:[text]( "title")
  • image?![alt text](/path/img.jpg "title")
  • numbered list: 1. Foo 2. Bar
  • to add a line break simply add two spaces to where you would like the new line to be.
  • basic HTML tags are also supported



Asked: Jul 22 '12 at 13:34

Seen: 1,209 times

Last updated: Jul 23 '12 at 16:49