Whether there will be any problem if my father deposit Cash in his account and later on transfer the same to his sons account i.e to me and I use the same for prepayment of home loan because his earnings are major in cash?
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Home loan prepayment out of gift from relative
Replies (2)
No issue, you can pay home loan
please note that cash deposit in excess of Rs 2 lakhs will attract 269SS 269T violations.
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