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Reportable transaction or not?

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Business
240 Points Posted on 23 October 2018
If parents give cheques deposited to major son bank saving a/c worth Rs 17 lacs during f.y. without any occasion like marriage etc. , is this a reportable transaction ?
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On 23 October 2018 at 20:12 Report
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"Do the Right Thing...!!!"
128152 Points Posted on 23 October 2018
It's based on nature of transaction...!

Better to ask with details then You can get exact solution from our CCI Portal.
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On 23 October 2018 at 20:36
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Business
240 Points Posted on 23 October 2018
just as gift to use in his business
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On 23 October 2018 at 20:49
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"Do the Right Thing...!!!"
128152 Points Posted on 23 October 2018
If treated as Gift then no need. But, Better to get gift deed...
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On 23 October 2018 at 20:53
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a
1620 Points Posted on 24 October 2018
no limit of gift from relative

but in any case father required to share source of fund in case of any notice of it
1 Reply
On 24 October 2018 at 09:05


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