My mother gift me 25 lakhs from A/c payee cheque and I received it and make gift deed . can I invest in fd is any issue from income tax department. Any enqury from dept then What can I do
My mother gift me 25 lakhs from A/c payee cheque and I received it and make gift deed . can I invest in fd is any issue from income tax department. Any enqury from dept then What can I do
The gifted amount is now your property, and you are free to invest/utilize it as per your wish.
So, you can invest it in FD.......... For any query........ you can provide the gift deed and bank transactions as proof. Only check that your mother has proper source of fund without any tax liability.
OK....... that's good........ No need to worry.......... Go for good investment/savings....... Good Luck......
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