Cash capital
ABHI KUMAR (710 Points)
09 January 2021
kya father apne son ko cash m rs de sakte hai for business
6 Replies
Krishna Chaudhary
(Accountant)
(4531 Points)
Replied 09 January 2021
Yes he can provided source of income of father should be valid otherwise tax at 78% will levied
ABHI KUMAR
(710 Points)
Replied 09 January 2021
Cash m 7 lac diye ho aur vo money son ne bank m jama kara di to bi vaild h kya
Kapadia Pravin
(17259 Points)
Replied 09 January 2021
Better deposit cash in father account and then transfer to son account by cheque.
Krishna Chaudhary
(Accountant)
(4531 Points)
Replied 09 January 2021
Yep Praveen is right.
what you should remember that father have a valid source of income, otherwise whole income will be taxable at the rate of 78 %
what you should remember that father have a valid source of income, otherwise whole income will be taxable at the rate of 78 %
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