Dear Experts,
Greetings of the day!
One of my client has got the money (14 Lac) from his father after sale of the parental property. The property was in the name of the Father. Firstly the cheque of sales money was in the name of the father. Father then paid their share directly into account. Now the client has this money since last 2 years in his FD (Fixed Deposit) account. Now as he can see there is a SFT transaction mentioned in his Form 26AS. What to be done? is it a matter to worry? Was there any tax which was supposed to be submitted in this money?
Thanks in advance.
CAclubindia
