Poonawalla fincorps
Poonawalla fincorps

80c

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 March 2012 hello sir/mam,
can fd taken on the name of son/daughter also eligible for 80c
what are the provisions if son/daughter minor/major
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BIJAY

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BIJAY (Expert)
03 March 2012 If we see the provision of Section 80C which includes the benefit of FD,if an assessee is an individual,then following person is dependent in relation to Individual, spouse, children, parent of either spouse. FD can be taken in the name of Minor child out of the individuals taxable income. For Minor, the Gurdian & Nominee would be Individual. If taken for Major benefit is not available.
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BIJAY

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BIJAY (Expert)
03 March 2012 If we see the provision of Section 80C which includes the benefit of FD,if an assessee is an individual,then following person is dependent in relation to Individual, spouse, children, parent of either spouse. FD can be taken in the name of Minor child out of the individuals taxable income. For Minor, the Gurdian & Nominee would be Individual. If taken for Major benefit is not available.
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