Dear Sir/Madam,
I am a Tax payer and have a query whether any questions would be asked by the Taxman if I transfer an amount of Rs 45.00 lacs from my Savings Bank Account to a private Bank based in Chennai for meeting the remaining cost of Flat (which was acquired thro' Bank's auction by my son). My son is an NRI and is in the process of transferring the above amount to my Bank at Chennai. My son is also maintaining an NRO SB Account with the same Bank with whom I maintain my accounts. As the amount involved is huge, I seek expert's advice whether I would face any queries from Tax Department and whether there would be tax problems if the transactions are put thro my Account. Your advice may be communicated to my regd. mail id - raruna52 @ gmail.com. Awaiting for an appropriate response in this regard. Thank you, Regards, Arunachalam
CAclubindia
