Hi,
I am a 24-year-old single guy working in corporate X. I come from an economically weak family background, so I send money to my father's account and to my brother to support his engineering education. I send approximately 10K to my father and 8K to my brother per month.
Is there any rule or law that would allow for tax exemption in this scenario? Please suggest. Thanks in advance :)
From India, Delhi
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I am a 24-year-old single guy working in corporate X. I come from an economically weak family background, so I send money to my father's account and to my brother to support his engineering education. I send approximately 10K to my father and 8K to my brother per month.
Is there any rule or law that would allow for tax exemption in this scenario? Please suggest. Thanks in advance :)
From India, Delhi
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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
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24From India, Hyderabad
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Circular No 1-2018 Processing of income-tax returns under section 143(1) of the Income-tax Act .pdf
Insurance Linked Voluntary Payment of Income Tax Act 2009.doc