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Check out the answer to a question from the reader:
The reader’s doubt: I make a monthly pix to help my parents. In such cases I have to explain in my Income tax Or include them as my addictions?
Responseby Welinton Mota*:
“When it comes to Pix, deposits, TED transfers, all to a person, also does not oblige who receives or who does the transfer to explain. Income tax These are the rules published annually, for example, having taxable income above R $ 33,88.00, among other specific conditions.
When it comes to donations or transfers to help someone, there is no obligation to explain these values. But if the person wishes, he can explain as a donation.
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It is worth remembering that in the state of São Paulo there is a limit of R $ 88,400.00 (or 2500 UFESP) that can be donated to someone within the year, without the existence of ITCMD (tax on transfer taxes and donation). The ITCMD interest rate is 4%, and up to that amount the donation is tax -free and does not need to be declared in income tax.
If the amount exceeds this limit, it will be necessary to consider ITCMD, which the tax may be required, especially if parents are not dependent on income tax.
In short, pix or transfer of quantities does not require that neither explain the donor nor the recipient as dependent. But if the donation exceeds R $ 88,400.00 and their parents are not their dependence, it is important to be aware of ITCMD in the state of São Paulo.
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*Welinton Mota, Tributarian Director of Cirirp Accounting, specializes in planning, management and tax consultation