TaxTMI 
TaxTMI 
Business in adult daughter's name when she is studying
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....usiness in adult daughter's name when she is studying<br> Query (Issue) Started By: - Neeloy Kumar Bakshi Dated:- 15-5-2013 Last Reply Date:- 9-12-2015 Income Tax<br>Got 4 Replies<br>Income Tax<br>Sir / Madam, (1) Can i start a business in my adult daughter's name while she is still completing her studies abroad.If yes ,then i will have to file Income Tax Return in her name? (2) In case the answ....
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....er to the above question is yes, then if she start's earning an income abroad then can i continue the business activity in her name & continue to file her IT return? Also the income that she earn's abroad will surely be tax deducted in the country where she will be working.Will this income earned abroad ,need to be mentioned while filing her IT Return & How will it be treated? Reply By CA GOPALJI....
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.... AGRAWAL: The Reply: She can start business in India. Till she is non resident as per Income Tax Act, section 6 her foreign income accrued and recd outside India would not be taxable in India not it is required to be disclosed in return in India. Reply By Neeloy Kumar Bakshi: The Reply: Sir, Can i or my wife gift a part of an existing business to my daughter? If yes what is the procedure? If....
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.... no can my daughter purchase a part of our business with her income earned abroad? If yes what is the procedure? Regards. Reply By MARIAPPAN GOVINDARAJAN: The Reply: In this regard a detailed discussion is required for which you have to consult an expert in Income Tax Act. Reply By Ganeshan Kalyani: The Reply: I guess by this time the queriest would have got his answer.<br> Discussion Forum - K....
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