Easy Office
LCI Learning

FD RATE OF INTEREST FOR HUF ACCOUNTS

This query is : Resolved 
Profile Image

Profile Image

(Querist)
22 April 2020 Can HUF ac get benifit of senior citizen FD rate of interest in banks if kartha is senior citizen
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
23 April 2020 The Karta of the HUF cannot be offered higher rate of interest, even if he is senior citizen, as the beneficial owner of the deposit is the HUF and not the Karta in his individual capacity.
Inference - RBI Mater Circular.
Profile Image

KAVIRAJA ADDANGADI

Profile Image

KAVIRAJA ADDANGADI (Expert)
23 April 2020 HUF and Karta are not separate entity, you can not avail senior citizens FD interest since Karta of HUF is senior citizen.
Upgrade to CAclubindia Pro. Subscribe Now!


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

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links