Utilisation of gratuity, pf and other funds
This query is : Resolved
30 June 2019
My father has retired from SAIL in May 2019. After retirement, he has got Gratuity, PF and other funds. My father has also running a photo studio and video shooting business.
Can I TRANSFER these amounts in my CURRENT account and TRANSFER these amounts to the members of my family?
Can I TRANSFER these amounts in my CURRENT account and TRANSFER these amounts to the members of my family?
CA R SEETHARAMAN
(Expert)
01 July 2019
Yes you can transfer the amount as proposed and treat it as gift from your father to family members no tax payable.
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