Tax Liability for Non Income Transactions Tax Liability for Non Income Transactions

1 year ago

Below is the case for which I would like to know if I owe money to the Tax authirities.
1. My 85 Year Old grandmother is a pensioner who receives My grandfathers pension who was a central Govt employee.
2. My Grandmother transfers an amount of 15 thousand monthly from her pension account through a cheaque to my bank account.
3. I withdraw the entire amount or transfer the amount to my mother who is a housewife and does not have any source of income.This goes towards Mothers expenses and medical expenses for my grandmother.

A. First, beign a taxpayer myself falling under the tax bracket 5L to 9.9L, will I need to pay any tax on the money(Point 2) that I receive in my Bank account?
B. My Grandmother gets hospitalised sometimes. She Pays the hospital expenses via cheque which gets transferred to my account. Am I liable to Pay tax on such transactions?

P.S: Due to her Age my grandmother cannot travel to bank to withdraw her pension nor she does not trust ATM cards.

Kishan Dutt Kalaskar

Responded 1 year ago

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A.Dear Sir,
The questions are related to Finance matter and such questions may be answered by either CA or Auditor. Please approach any one of them.
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