Need A Financial Product Forums Tax Savings Is money transfer to mother’s account taxable in my hands

This topic contains 1 reply, has 2 voices, and was last updated by  Hitesh Jain 3 years, 4 months ago.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
  • #47217

    Hitesh Jain

    I have savings bank account with HDFC Bank and my mother has an account with PNB. If I transfer some of my money through net banking from my account to my mother’s account, will it be taxable in my hands?


    Ashok Malik

    When you earn money, you become liable to pay tax on it. In whosoever account you transfer this amount does not really matter as you have already paid tax on it. Once the money gets credited to your mother’s account, it becomes her money and any interest earned on it will belong to her and therefore taxable in her hands.

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.

About Us

Simplypaisa, a web initiative by Elite Wealth Advisors Ltd, has the primary objective to help readers make smart financing decisions. What is smart finance? How to make smart financing decisions to procure assets or to meet one’s personal needs? Information is critical to make smart financing decisions: be it to purchase your dream house, a car, to start a business or to enable an entrepreneur to meet his/her working capital needs.Read More...


Elite Wealth Advisors Ltd.
S-8, DDA Shopping Complex,
Near Jeevan Anmol Hospital,
Mayur Vihar Phase-1, Delhi-110091.
Phone No: 011-42445800
Email :

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.