income tax on money recieved from parents

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  1. hello3anurag

    hello3anurag New Member

    Hello sir ,
    I bought a flat for down payment of the same my parents helped me with 15 lakhs rupees do i need to pay any tax on this amount recieved. The amount was paid directly to builder through cheque directly from my parents account . Also should i get this documented legally if yes what should i do exactly ? Please advice on this

    Thanks and regards
     
  2. Karan Batra

    Karan Batra Well-Known Member

    Amount received from parents as exempted from the levy of any income tax
     
  3. hello3anurag

    hello3anurag New Member

    Thank you very much sir for clearing doubt.
     
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