RAJAN KUMAR (company secretary) 09 February 2012
PLease Help me .....
Mr. A works in China for last 3 years and receives his salary over there.He sends some part of his income to his father's savings account directly. What should be the tax treatment of his father as he want to file his return and willing to show this money as because he is investing the money in FDRs and NSC.
Vineet (Director) 11 February 2012
The amount is gift received from relative, hence not taxable in hands of father.
In the current IT Return forms, there is no provision to disclose such receipts. He can keep record of all remittances (FIRC) and a simple gift letter from son every year specifing the amounts remitted, mode of remittance and document showing his NRI status.
RAJAN KUMAR (company secretary) 11 February 2012
thankxxx sir......
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