Is cash deposit for maintenance for short term in a bank taxable?

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.

asked Jul 27 '11 at 13:32 by Mohammad Aslam 1223

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.

answered Jul 27 '11 at 19:13 by Pankaj Batra 5.2k320


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Asked: Jul 27 '11 at 13:32

Seen: 2,371 times

Last updated: Jul 27 '11 at 19:13