for my few pending query of earlier please suggest:-
1)i have to transfer in which account,to my dad single account or to my dad joint account with me.
2)will my dad have to pay any tax as I am giving this to his account 4.5lks ...as I have money in bank which I am sending has been already taxed and filing return too and got tds refund too.
3)and lastly sir ... all at once i transfer full amount or in 4.5lks now ,4.5lks in next financial year,4.5lks next year like ways I do transfer ,please tell sir so I can proceed in best way.????
1.You can transfer to single or joint as you want
2.Same is not taxable in hands of your father. Also make gift deed.
3. You can transfer either lump sum or in instalment as you want.
If you are transfer through account to account then no need to worry, You can do so
CAclubindia
