Hi,
I am 24 year old, single, guy working in corporate X. I have economically weak family background so I send money to my family (fathers account) & to my brother for completing his engineering education. amount are aprrox 10K to father & 8K to brother per month.
Is there any rule or law that would allow tax exemption in this scenario?
Please suggest. Thanks in advance :)
From India, Delhi
I am 24 year old, single, guy working in corporate X. I have economically weak family background so I send money to my family (fathers account) & to my brother for completing his engineering education. amount are aprrox 10K to father & 8K to brother per month.
Is there any rule or law that would allow tax exemption in this scenario?
Please suggest. Thanks in advance :)
From India, Delhi
Hi Vikas According to me there is no such provision in Income Tax which provide rebate when monetary supported provided to family members. Please experts correct me if I am wrong.
From India, Hyderabad
22From India, Hyderabad
Dear Mr.Vikas, The money paid to family members are not eligible for any tax exemption. Ramakant
From India, Pune
From India, Pune
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Tax Exemption (SUPERB).doc
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