A person resident in india want to gift Rs. 1 crore to his foreigner (NR) son for business.
So what are the procedure to follow or what is the tax liability.
1 Replies
CA MAYUR THAKKAR
(Propritor)
(65 Points)
Replied 20 December 2019
No tax lability. bank may insist for 15CA and CB. if they are convinced with only 15CA you may go ahead with part D. If they insist for 15CB you have to go with part C.
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