- Mar 6, 2016
- 2
- Category........
- NOC Code......
- 0601
- Job Offer........
- Pre-Assessed..
- App. Filed.......
- 04-03-2016
- Doc's Request.
- 23-04-2016
So I am planning to get a self-attested gift deed since my dad has agreed to fund my expenses in Canada.
Now my concern is that he has a NRI (non residential Indian) account while I, being a domestic citizen of India, no longer qualify for the NRI status. So in this case, will the money he transfers from his NRI account to my domestic Indian bank account be taxed?
And if yes, is there a way for me to avoid paying this tax? - I mean its pretty ridiculous paying tax on money that belongs to the same family you know...
Now my concern is that he has a NRI (non residential Indian) account while I, being a domestic citizen of India, no longer qualify for the NRI status. So in this case, will the money he transfers from his NRI account to my domestic Indian bank account be taxed?
And if yes, is there a way for me to avoid paying this tax? - I mean its pretty ridiculous paying tax on money that belongs to the same family you know...