Dear Sir/madam,
I am going to receive funds online from my father's brother. He is a NRI.
Then I will be transferring the funds to my mother, and we will be investing it in a property in her name.
According to my knowledge, both of them are considered as gifts.
Will there be any income tax involved, in any of the above transaction?
Will there be any income tax involved, if my father's brother directly transfer to my mother's account?
Should we submit any forms related to gift, while filing ITR?
Only the bank statement is enough as proof, if there is an IT enquiry?
Regards,
Syed
