There will be no tax problem because u dont have a PAN card

Answered by Chandramouli , an ibibo Citizen, at 7:18 PM on October 11, 2008

first you get pan.the amount gives to you by your father that should be by a/c payee cheque only .that amount should be transfered to your a/c after that you can use it . that amount will be loan from your father there is no problem in it. and you can by moter bike on loan and pay from your pay or this bank amount which you have receive from father.if any other query ask i am tax consultant.

Answered by Arvind , an ibibo Citizen, at 10:05 PM on October 11, 2008

If you have income for more than Rs.1,50,000/- in a year, you need to file income tax. If you do not have any income, you need not file any tax returns. In your case, as you are getting money from your father for purchase of Bike, you need not pay income tax and you need not get PAN card at this time.

Answered by Memb Rane , an ibibo Specialist, at 9:11 PM on October 15, 2008