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Transferring online money to father

936 views 6 replies

Rohit

Student Others

66 Points Posted on 08 August 2025

I have transferred 20 lakh to father online .the money I had got through cheques as i had sold some property.

My query is , is legal to transfer money to father online

How the further proceed from father will be taxed if it is transferred online

Do we need to make gift deed mandatory to avoid clubbing of income in my income

Can we make deed in white paper and get it signed in the presence of witness or affidavit is mandatory for deed

Can we make deed after the transfer of money ,if so what is the time limit

Replies (6)

Quick Summary

This discussion addresses the legality and tax implications of transferring a significant sum of money online to a father in India. The consensus suggests that a gift from son to father is generally not taxed. However, it's advisable to document the transfer with a simple gift letter or a gift deed on stamp paper to avoid potential issues like income clubbing, especially if the funds are used to generate further income.

sabyasachi mukherjee

Profession Business

28244 Points Posted on 08 August 2025

It may be for medical expenses.

Its exempted from tax.

Rohit

Student Others

66 Points Posted on 09 August 2025

Sorry but you did not read the full query

Sargurunathan.G.R.

Finance Professional

171 Points Posted on 09 August 2025

Hi,

Pleae treat as loan given to your father, that will not be taxed.

You need to get the same from from your father and record the same.

If you are not going to get back the money from him, then prepare proper Gift deed in stamp paper for records.

Sargurunathan.G.R.

Finance Professional

171 Points Posted on 09 August 2025

Hi,

Pleae treat as loan given to your father, that will not be taxed.

You need to get the same from from your father and record the same.

If you are not going to get back the money from him, then prepare proper Gift deed in stamp paper for records.

Ranjan

1475 Points Posted on 09 August 2025

@ Rohit

This 20 Lakh is a GIFT from Son to Father [ not cash ]and does not attract any tax as per Indian Direct Tax Laws.

But better to keep a simple Gift Letter mentioning clearly that:-

This [Amount] is a Gift from NAME [Son] to NAME [Father], date, place and your signature. You can just prepare it on a small value stamp paper [ 50/- or 100/- rupees]. This can be held by the receiver of the Gift [your father] for producing, if ever needed.

If the RECEIVER of this gift uses the funds for producing any income, that income belongs to him and taxable for him [Your father] alone. Except if the gift was to a Minor and the gift amount produces income [ ie FD interest for example] then that income becomes taxable for the parent [with higher income] , but not for the gifter, if gifter is not one of the parent.