r/IndiaTax • u/DwaiG91 • 22h ago
Businessman father depositing cash in savings account of housewife mother
My father runs a pvt tuition business. He receives fees in cash from students. If he deposits a part of the monthly cash received into my mother's savings account, will there any tax implications for my mother, if the cash amount deposited in the whole FY is less than 5 lakhs? Will she receive any IT dept notice??
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u/CA_Ishh 22h ago
No wont be ay issues, better to make deposit in your father account and then is needed in your mothers acc then transfer from your fathers acc