Step 1: Understand the transaction.
The man initially gives Rs. 500 to his son.
He takes back Rs. 100, so his son now has \( 500 - 100 = 400 \).
Then, he gives back Rs. 50, so his son now has \( 400 + 50 = 450 \).
But the total amount the man gave to his son after all transactions is the initial Rs. 500 plus the Rs. 50 he gave back, which gives:
\[
500 + 50 = 550.
\]
Step 2: Conclusion.
Thus, the total amount the man gives his son finally is:
\[
\boxed{600}.
\]