Will that money be taxed? The money coming in to this account from USA is used basically to pay for my parents monthly living and maintenance expenses - like phone/electricity bills. This account is in my sole name and no joint account with parents - normal savings account - and is different from my salary account.|||Gift received from relatives is not taxable.
As long as you can prove the source of income, no problem.
Simple solution is to ask your parents to open an a/c and credit money from USA to the same.
HMT
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