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suggest how to transfer money safely and correct way
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.....
Replies (13)
Any Banking channel........... Bank transfer/RTGS/NEFT ...
as i want transfer to postoffice account and please sir give me full detail answer please for above question to understand prperly
Issue cheque ...
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.
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.
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.
2. will thete be any enquiry on such small partion 4.5 which i send so please detail suggest all.
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.
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
So just 100 rs notarized gift deed will work?
Yes.
no need to go for any kind of registered gift deed ..only notarised stamp paper 100rs will be 100percent fine ...please tell....???
Correct
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.
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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