Does some one need to maintain proof of spending after receiving money sent by NRI ?

POSTED BY rohank ON January 11, 2014 2:44 pm ONE COMMENT

Hi guys.  I have a query regarding expenses made from money sent by NRI. I know that money sent to relatives is not taxable but can the recepient spent money without any proof? For eg A father is receiving 20lakhs from his NRI son. Now can he spent it in anyway he wants or he must have proof for his spending? Please help me out with this dilemma.

One reply on this article “Does some one need to maintain proof of spending after receiving money sent by NRI ?”

  1. ashalanshu says:

    Dear Rohank, as on date income tax deptt. does not demand for expense proof but in case the person gets scruitny order, he should be in the position to justify his income and expenses.

    Thanks

    Ashal

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