Money transferred from nri account

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 May 2015 Dear Experts,
My client`s Son is NRI he is tranferring money to his fathers account and my client is investing that money in purchasing properties in india.so what will be the tax implication for my client in india

04 May 2015 Investing in properties in his name and paying taxes on income from property no problem. Investing in son's name in other than agricultural land and paying taxes on income from properties no problem.

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 May 2015 THANK U SIR FOR YOUR REPLY
WILL THE MONEY TRANSFERRED FROM NRI ACCOUNT BE TREATED AS GIFT FROM SON?

04 May 2015 Yes it will be treated as gift and no tax payable.


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