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Is there any limit to transfer money in the account
02-Dec-2023 (In Family Law)
Respected Sir/Madam, Mediation is now complete in the Family court relating to my daughter and son-in-law and an amount of Rs. 28000/- has been fixed as a monthly maintenance. My son-in-law has told that he will transfer Rs. 20000/- to wife's account and the balance will be paid in cash. Can you please tell me the reason behind his version ? He is a central Govt. employee. Is there any limit in the transfer of money ? Please clarify..
There is no limit to transfer amount but as per it act amount more then 20000/- has to be paid by a/c paye hence there is no limit for transfer but he may be giving rs 8000/-,out of unaccounted money.
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Adv. Bharat Narasgouda
Belgaum | 500+ Answers
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Dear Sirs,
There is no such regulations by RBI or under the Family law. However, if your daughter receives 250k above in a year it may be taxable with 10% unless exemptions claimed. However, see it to that your son in law pays 28k per month by whichever modes comfortable for him.
Regards,
Sadanand
There is no such regulations by RBI or under the Family law. However, if your daughter receives 250k above in a year it may be taxable with 10% unless exemptions claimed. However, see it to that your son in law pays 28k per month by whichever modes comfortable for him.
Regards,
Sadanand
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Adv. Sadanand Naik
Bangalore | 200+ Answers
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Dear Sir/Madam,
There is no limit for transfer of money, your son in law can transfer the entire maintenance amount through bank, the clarifications is to be sought for from your son in law, why he intends to pay the balance amount through cash.
There is no limit for transfer of money, your son in law can transfer the entire maintenance amount through bank, the clarifications is to be sought for from your son in law, why he intends to pay the balance amount through cash.
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Adv. Avinash B C
Bangalore | 25+ Answers
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