18 December 2012
Dear Sir, One of my friends is nre .he has deposited around 90 lacs as fixed deposit. he has a child whose age is around 20 &a wife .can he transfer the amount to the respective persons account so that he can pay less of tax. if it is notpossible so please suggest me some way for the same. Thank You.
19 December 2012
Thanks For your reply sir,i know the clubbing provision will attract but if he make a gift deed &transfer the amount than is it possible to do so.