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Wrongly transferred amount taken back and re transferred

Tax queries 220 views 2 replies

Dear Experts,

If a individual mistakenly transfers a amount to his mother which he intended to transfer to his father,

so to correct it if he retake that amount from mother and then again transfer to father would that amount to any cross transfer?

If yes then clubbing would be attracted?

Or would it amount amount to only one transfer to father?

 

Kindly reply ASAP

 

Thank you

Replies (2)
It amount only one transfer to ur father.... Debit and credit the transaction is setting off... Only net results matter... Don't worry so

unless you are planning to show it as a loan, the best thing would be let mother transfer it to the father..


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