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som108
Jun 9, 2008, 11:38 PM
Sir / madam
My daughter took educational loan to study in USA. Now she has completed her studies and wants to repay the loan by transferring $ to my account and I shall pay in Rs to the bank through my cheque. Does this procedure put any tax liability on me?
Thank you and regards
Som

MukatA
Jun 10, 2008, 02:24 AM
No, there is no tax liability to you. In India, you can receive any amount from your daughter or son.