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Gift by mother to nri son

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(Querist)
07 September 2019 Hello All
My client want to give gift to his NRI son in his NRE account in USA for rs 15lac. Can she give to what extent. What will be the implications and consequences of taxation to both of them?
Pl advise.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
07 September 2019 Yes, she can gift 15 lacs to his son's USA account under liberalized remittance scheme no tax payable by both.
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sanjay

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sanjay (Querist)
08 September 2019 Sir
What formalities to be done for transfer of amount to NRE account. Any CA certificate to be uploaded on income tax site
Pl advise what documents to be kept with my client for future records.
Regards
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Aashok Kumar Sharma online

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Aashok Kumar Sharma online (Expert)
04 June 2020 Gift deed can be prepared.....................
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