Business in Adult Daughter's name while she is studying & working Abroad

[Neeloy Kumar Bakshi]

       Sir/Madam,

                       Please refer Issue Id-105679 dtd 15/05/13.I had received a reply from CA Gopalji Agrawal.My CA is of the opinion that this will amount to Diversion of Income by me.

Can you please clarify  my doubt so that the matter can be resolved.Thanks & Regard's

AI Summary

Running Business in Daughter's Name Abroad May Constitute Income Diversion, Expert Warns An individual inquired about the implications of running a business in their adult daughter's name while she is studying and working abroad, expressing concern about potential income diversion. The query was initially addressed by a certified accountant, who suggested it might constitute income diversion. The individual sought further clarification to resolve the issue. A response was provided by another participant, referencing a previous answer related to the issue.