Can a son of senior citizen father will give money to his father as a gift and father want regular income on the same ,So he can invest that money in SSSC for their regular earning.
or there is mandatory senior citizen account only be open with money that received from retirement fund only???
Another question
if father have some money which they already invested in MF not he decided to put some some money in SCSS for regular income .
So he can do or bank or institution can ask for employer detail for money source.
1. Yes, he can open SCSS account with gifted money, also.
2. When money withdrawn from MF, and reinvested in SCSS account, no question of money without source. All bank entries are its proof, no question of cash deposited!!
CAclubindia
