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Deductions & credits
@Gemani , not knowing which country you are sending monies to and assuming that you are wiring the monies to a bank account owned / operated by your parent, I do not understand the issue here. Personally , I would declare ( as far as I know the only time this required by the transmission entity because of KYC -- Know Your Customer--- requirements ) what it really is for. There is no requirement nor advantage in declaring that this transfer is a gift .
Please consider just keeping it simple and true.
Is there more one of us can for you ?
May 13, 2024
11:50 AM