Need A Financial Product › Forums › Tax Savings › Is money transfer to mother’s account taxable in my hands › Is-money-transfer-to-mothers-account-taxable-in-my-hands_REPLY
September 6, 2014 at 11:53 pm
#47218
Sameer KapoorParticipant
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.