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Can Resident Indian Father transfer money to his NRI sons NRO account?

1327 views 7 replies
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280 Points Posted on 26 February 2024
Can a Resident Indian Father transfer money to his NRI son's NRO account? If yes, is there a limit, and, are there any Taxation issues to be aware of?🤔
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On 26 February 2024 at 04:29 Report
Replies (7)
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Chartered Accountant
86505 Points Posted on 26 February 2024
Yes he can transfer. There is no limit and no tax is there for transfer of amount by father to son.
814 Reply
On 26 February 2024 at 07:21
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280 Points Posted on 26 February 2024

Thank you so much, Sir! Please oblige further, by outlining briefly, the procedure, documentation required on part of the resident Father and NRI Son, for effecting such a fund transfer. Thanks in advance. 

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On 26 February 2024 at 21:22
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Chartered Accountant
86505 Points Posted on 26 February 2024
If you want to transfer as a gift then execute a gift deed otherwise there is no need of any documentation.
814 Reply
On 26 February 2024 at 21:31
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280 Points Posted on 27 February 2024
Again,Thanks a lot Sir ! I shall simply write a cheque and deposit in my Son's NRO account, and, keep the details for my reference.
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On 27 February 2024 at 06:13
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Profession Business
28207 Points Posted on 03 March 2024
Exempted as per sec 56(x) (2)
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On 03 March 2024 at 21:27
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Chartered Accountant
86505 Points Posted on 04 March 2024

Yes you can do so....

814 Reply
On 04 March 2024 at 00:00
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Chartered Accountant
86505 Points Posted on 04 March 2024

Yes you can do so....

814 Reply
On 04 March 2024 at 00:00


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