Facts of the case :- A mother who is a retired pensioner as well as the income tax payee, sells her property in Delhi and is liable to pay capital gains tax on the transaction in the current year 2009-10. She has purchased another residential house property of a lesser amount for which she is entitled to exemption under section 54. Balance Sale proceeds from the property sale is deposited in her savings account in Delhi. Her elder son is settled in U.K and holds the British Passport.
Queries :- 1) Can she remit the sale proceeds to her son in U.K as gift for meeting his family maintenance and living expenses, from her savings account?
2) If the answer to the above query is Yes, is there any limit for such remittances to be made in British Pounds?
3) Is TDS to be deducted on the remittances made and on what rate?
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