The Commerce Journal,Business and Local Businesses
*The Commerce Journal>>>India Taxes

What is the tax benifit i get in giving money to my parents?


Is there any option of getting tax benifit in india if i give money to my parents for there living.

no.

I think you have not given the details correctly. But I understand from your question is that (1) you are working in some other country and you are paying taxes there. (2)you want to send money to your parents for their living.

OK?

Then what kind of tax benefit you want is not clear. Because, if you send money to parents, it is not at all taxable in India.
Gift tax or Income Tax is not at all attracted in that case.

And I am sure.

unfortunately, no tax benefits are available

Tags
  United States Taxes   United Kingdom Taxes   Spain Taxes   Singapore Taxes   Mexico Taxes   Ireland Taxes   India Taxes   Germany Taxes   Canada Taxes   Australia Taxes   Small Business
Related information
  • When jindal strips was spitted to 2 shares of Rs.5?

    search on bseindia.com. send mail to JSL, being a shareholder u must be informed with any action in this regard.

    ...
  • I Lost my pan card. I have filed FIR in police station. If I apply for new pan card my pan number will change?

    Actually FIR is not must for applying for a duplicate PAN card. If you apply for a duplicate PAN, your PAN number will not change. For other details you can read the answer of Mrs. Sana Anjum (...

  • I lost my pan card. If I apply for new pan do I loose all the history that was present on my old pan card?

    Hi, Cool......... If you lost you can apply for duplicate pan card you will get same PAN No. so there no problem. You have to use Income Tax for No. 49B For Renaissance Accounts & ...

  • Pls Tell me where I should file Income Tax Return.........?

    PAN card may be from any place. It dose not matter. You have to file at the place where you worked on 31st March. (Gurgon). Regarding the last year returns, if there is no tax to be paid by y...

  • Indian stay in india can i send money from paypal to directly my bank account in india?

    You can sent. But why paypal in India?. As far as passable try to avoid paypal. It leads to unnecessary misunderstandings. The tax officials may drought you.

    ...
  • What is fixed tds rates. and does rates are applicable with different for each services?

    Full details about TDS are given in the web link given below. ...

  • How to check pan card issue date?

    The only way to obtain or know the date of birth for your PAN card is to approch a NSDL or UTIISL office. If you request them for the same, they will help you. This is the only way to know your d...

  • What documents to be submited for duplicate pan card when lost.?

    If you have lost your PAN card, you need to notify the police and get an FIR from your local police station. You also need to write a letter requesting the issue of a duplicate PAN card. Visit...

  •  

    Commerce Categories--Copyright/IP Policy--Contact Webmaster