Dear sir, I am receiving USD 900 every month from my spiritual desciple in USA to support my family as I have no other source of income. I get this through bank transfer and declear the same in my returns. My question is that is this sufficient or do I need to fulfill some other legal requirements ? Also I want to know that I am not violating any Indian law by getting this money. Thank you
Please advise in detail
No follow up question
If you are showing it as income and paying proper taxes on same then its okay and you dont need to fulfill any further requirements.
You are not violating and Indian law.
Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.
Thank you.
Hi,
Hope you are doing well !!
No, you are not violating any Indian law by getting this money.
However, you need to pay applicable taxes on the same.
It is advisable to take a phone consultation for detail discussion.
Hello,
There is no violation of law by receiving the amount every month. You are required to properly declare the same in your income tax return.
I hope that this answer satisfies your requirements.
Regards,
CA Hunny Badlani
Hi
No. There is no such violation.
There are no other requirements.
Please enlighten as to how you report this in your income tax return. Kindly ensure that appropriate taxes are paid.
- It is a receipt against maintenance which is voluntary and payment of tax on such income can be argued.
