My father a senior citizen has no source of income. I want to deposit around 3 lac in his account for renovation of our home. The amount will be in my father's account around 4-6 month. Do my father need to pay tax on this amount? I am an NRI living in Dubai.
1 Answers
You can transfer amount to your father as gift and there won't be any income tax on it as amount is transferred in relation.
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