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Monthly transfer to mother

Income Tax - Started By: - Himanshu Agrawal - Dated:- 26-10-2015 Last Replied Date:- 12-12-2015 - If I do online transfer of some amount to my mother (a housewife, so no income from any source) then will the interest earned by my mother on the invest .....

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some official word then it would be great.Thanks in advance. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = The earning of your mother on depositing the said amount is only interest. If the interest is within the taxable limit there is no need to p .....

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ion limit then will it attract income tax? Or income tax in her account will only be calculated based on interest earned during the financial year?So, it means a son can evade income tax on his account by transferring some amount to her mother's .....

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nce whatever the amount transferred to your mother is still your income. You have to pay the income tax for the same. But in the hands of your mother it would amount gift from son to mother. - Reply By Himanshu Agrawal - The Reply = Sorry for not bei .....

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xed until it crosses tax bracket. Right?Also, once transferred amount is in the mother's account, income tax will be as per interest earned during financial year and not the principal transferred or account balance. Right? - Reply By Ganeshan Kal .....

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taxed once the limit exceeds in the hands of your mother and she will have file income tax return on exceeding the income slab. - Reply By Himanshu Agrawal - The Reply = Thank you sir for your valuable time and inputs. Few last follow up questions - .....

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