Transfer money abroad

Tax queries 560 views 1 replies

I am currently in Australia and wish to transfer money from my resident bank account to Australia bank account. My father can send me upto $100,000 usd as that's the limit. For this I need to transfer money from my resident account to my father's account in India. Will my father would have to face any sort of tax implications for this.

Replies (1)
HI ,, JATIN , AS PER MY KNOWLEDGE YOUR FATHER NEED NOT TO FACE ANY TYPE OF TAX IMPLICATION DURING THE WHOLE PROCESS OF TRANSFER OF MONEY...BCOS TRANSFER OF MONEY IS NOT A INCOME IT IS MERE A RECEIPT


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