Nri son gifting to father by money transfer.

Forums Tax Planning Nri son gifting to father by money transfer.

Nri son gifting to father by money transfer.

NRI son gifting his father by money transfer from Geneva to Hyderabad India. Rs. 2L & Rs. 4L by separate transfers. Can Two Cash Gifts be made in one financial year? Also, can Gifts be given every year by son to father? Father is Retired Engineer, & his taxable income is below 2.5L.

Profile photo of Vepa Samba Siva Rao Asked By: Anonymous 1 replies 0 helpful answers Last Updated: 10 months, 1 week ago
  • Profile photo of Vepa Samba Siva RaoAnonymous

    NRI son gifting his father by money transfer from Geneva to Hyderabad India. Rs. 2L & Rs. 4L by separate transfers. Can Two Cash Gifts be made in one financial year? Also, can Gifts be given every year by son to father? Father is Retired Engineer, & his taxable income is below 2.5L.

  • Thank you for your question.

    Gifts from relative is tax free. So you can give your father gift which is not taxable in hands of your father.

You must be signed in to reply to this question.