suggest how to transfer money safely and correct way

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189 Points Joined May 2017
As i have saved money into account since 18 years when i was school and but now i want to transfer to my father as i am not earning much now but my saving income from other shows interest earned much ,so i am already filing return and amount in my bank so plz tell me how my savings can be saved by sending to my non working father ...how i can send 15lacks to my dad account.in genuine manner.please suggest me in correct way???and also do suggest if i send how i can send in what ways...???all in detail please.....
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On 18 January 2019 at 05:03 Report
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SEO Sai Gr. Hosp.
210815 Points Joined July 2016

Any Banking channel........... Bank transfer/RTGS/NEFT ...

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On 18 January 2019 at 10:14
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189 Points Joined May 2017
as i want transfer to postoffice account and please sir give me full detail answer please for above question to understand prperly
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On 18 January 2019 at 10:16
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SEO Sai Gr. Hosp.
210815 Points Joined July 2016

Issue cheque ...

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On 18 January 2019 at 10:31
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189 Points Joined May 2017
that is by cheque only and i am paying tax at nill.but my question was should i transfer all15lks in this financial yr or like this i do 4.5 now then 4.5 in april 2019 and then nexy year 4lks in april 2020.to dad account as will thete be any enquiry why you send money to your dad.
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On 18 January 2019 at 11:00
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SEO Sai Gr. Hosp.
210815 Points Joined July 2016

He is your dad, a relative as per IT act. You can gift him any amount anytime without any restriction/condition.

For IT inquiry make a Gift deed.

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On 18 January 2019 at 14:55
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189 Points Joined May 2017
1.registered gift deed is very costly so how can i give without registeted gift deed please tell me ... like this can i give 4.5 lks now,then 4.5lks next financial year and than next 4.5lks next year like that..??and

2. will thete be any enquiry on such small partion 4.5 which i send so please detail suggest all.
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On 18 January 2019 at 15:00
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SEO Sai Gr. Hosp.
210815 Points Joined July 2016

There can be inquiry for any amount, specifically when repeated number of times. And for every gift made gift-deed will be required. Gift deed in this case need not be registered.

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On 18 January 2019 at 15:10
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189 Points Joined May 2017
so just 100rs notorized gift deed will work ???please help or i have to register as registered gift deed will cost me around 23000 ×3 =68000 around (for every 3 time deposit)..please suggest...perfectly so i can make wise decision
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On 18 January 2019 at 15:22
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SEO Sai Gr. Hosp.
210815 Points Joined July 2016

So just 100 rs notarized gift deed will work?

Yes.

 

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On 18 January 2019 at 15:33
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189 Points Joined May 2017
no need to go for any kind of registered gift deed ..only notarised stamp paper 100rs will be 100percent fine ...please tell....???
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On 18 January 2019 at 15:37
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SEO Sai Gr. Hosp.
210815 Points Joined July 2016

Correct 

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On 18 January 2019 at 15:50
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189 Points Joined May 2017
1 more thing all in one way i transfer or 4.5 ,4.5,4.5 like ways I do,please tell than i can proceed sir...and thankyou sir.
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On 18 January 2019 at 15:55
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Self employed
2193 Points Joined March 2018
You Can Transfer All The Amount i.e. 15 lakh In One F.Y. But prepare a Notarized Gift Deed As Per Said By Dhiraj Sir
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On 19 January 2019 at 23:35

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