Posted on: 24-03-06 07:23:55
Hi CD,s
A quick quesion :
What happens if you recieve a huge sum of money as a gift for your minor child from outside the country?
Is it taxed and how much?
How do you save the tax?
VCD
(Videshi Canadian Desi)
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I AM "CAN-INDIAN"
You have the answer to your other question in this question - thought not completely!
Chandresh
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Chandresh
Advice is free – lessons I charge for!!
Hi Chandresh...didnt understand your answer. Have gone a bit duff in my head having stayed in the deserts for elongated period of times.
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I AM "CAN-INDIAN"
Quote:
Originally posted by shubi13
Hi CD,s
A quick quesion :
What happens if you recieve a huge sum of money as a gift for your minor child from outside the country?
Is it taxed and how much?
How do you save the tax?
VCD
(Videshi Canadian Desi)
What taxation are you talking about?
Gift tax or
taxes on incomes on this huge some of money earned by child.
Remember one thing, when your child is 18, that money is his. He can do whatever he wants with it.
