16 August 2015
My son is 17 now and will be major by next July (2016). Can I invest money in FDs in his name now for a period of 1 year and avoid tax on interest inocme by way of filing tax return for the FY 2016-17 (ay 2017-18) in my son's name?
16 August 2015
You can do it, it is not avoidance of tax. You can call it tax planning which is legal and there is problem in doing it with suitable instruments.
CAclubindia
