Security money deposit

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chinu (Querist)
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14 April 2023 Can the security money, (approx Rs 200000 ) be deposited in NRI's mother's ( resident Indian) account who is a family pension holder instead of his NRO account.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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14 April 2023 No. Depositor issues cheque in favor of NRI son and not in the name of his mother.

chinu

chinu (Querist)
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14 April 2023 The money will be deposited by net banking. Is it ok?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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14 April 2023 That is one and same thing. When the contract is with NRI son, deposit of security with mother is questionable.

chinu

chinu (Querist)
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14 April 2023 Thanks sir for the quick response.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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14 April 2023 You are welcome.

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