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Reportable transaction or not?
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 ?
Replies (4)
It's based on nature of transaction...!
Better to ask with details then You can get exact solution from our CCI Portal.
Better to ask with details then You can get exact solution from our CCI Portal.
just as gift to use in his business
If treated as Gift then no need. But, Better to get gift deed...
no limit of gift from relative
but in any case father required to share source of fund in case of any notice of it
but in any case father required to share source of fund in case of any notice of it
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