Gift money
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 October 2017
HOW MUCH MONEY CAN I GIFT TO MY SON IN A YEAR.? I AM A BUSINESSMAN .. MY SON WORKING ABROAD ALSO HAVE AC IN INDIA . CAN I DEPOSIT ABOVE MONEY TO HIS PPF AC? IS THERE ANY COMPLICATION ABOUT TAX?
23 October 2017
No upper limit for the gifts to relatives
23 October 2017
PPF amount can be deposited in cash but I'm not sure whether your Bank accepts. There is no issue in gifting your son the money and investing in his PPF amount
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23 October 2017
Since you are a businessman, I'd advise that you document the gift to your son. No need for registered deed, a simple document will be sufficient
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