fixed deposit

This query is : Resolved 

08 April 2009 If the income of three members of a family are deposited in the bank as fixed deposit in the name of a single member, is there any tax implications to it. All the members are filing the returns and are below the taxable slab. If a big amount is deposited in his name then is he answerable to the tax department

08 April 2009 No, There is no implication.

09 April 2009 its depend that the income is from cash or from bank, if cash is deposited in bank fixed deposit than he will be answerable to the tax department.




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries