Money Received from abroad

Balaji Bakthavathsal (Querist) 11 February 2011 This query is : Resolved
I have initiated a civil suit on the property of our family. Since it is a joint family property, the legal expenses are met by my cousin who is in U.S and he use to remit the amount in $ to my S.B. bank account in India to meet the lawyers fees, court fees etc. Does it attract Income Tax and need to be shown while filing the Income Tax Return ? The money is purely for meeting the legal expenses.

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A V Vishal (Expert) 11 February 2011
Not required to disclose in your ITR, however, account the monies received properly to justify the transfer of money.

Basavaraj (Expert) 11 February 2011
right answer

G. ARAVINTHAN (Expert) 11 February 2011
not required.
However, You can even show that in IT returns by showing suit as a document to prove the same

M V Gupta (Expert) 12 February 2011
You will not be liable to pay tax on the sums in question. But u have to mention the sums in the return under the head amounts calimed exempt from tax.

soumitra basu (Expert) 15 March 2011
It is not your income. it is only for specific payments.

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