Menu
Can Resident Indian Father transfer money to his NRI sons NRO account?
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?🤔
Replies (7)
Yes he can transfer. There is no limit and no tax is there for transfer of amount by father to son.
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.
If you want to transfer as a gift then execute a gift deed otherwise there is no need of any documentation.
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.
Exempted as per sec 56(x) (2)
Yes you can do so....
Yes you can do so....
Recent Threads
- Duplicate Salary entry
- Tax audit applicability on fno, intraday
- NSDL and CDSL have not reported sales made on 28th
- Schedule FA table A2 - what to specify in amount?
- GST on Real Estate Developer | Construction Contra
- How to treat losses from f and o trading in itr
- ITR 44AD and Fno
- 44AD Future and Options
- Total Income consideration for Surcharge calculati
- CA Inter Costing best faculty
Related Threads
CAclubindia
