Funds from father to son
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 July 2016
Mr.x,age 24, unemployed, allotted a flat by a govt agency,cost 51 lakh. father wants to give money from his bank account.any permission required?
please advise
please advise
05 July 2016
No permission required treat it as gift, which is exempted from tax.
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