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Querist : Anonymous

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Querist : Anonymous (Querist)
05 February 2016 Dear All,

Every year out of my salary 50% of it I have made FD in my Mother's name . My mother is a senior citizen . Now I want to buy a home and I need funds.Kindly guide me how to use the FD money by the way of Gift or any other alternative .

Thanks & Regards.
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CA Harish Suwalka

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CA Harish Suwalka (Expert)
05 February 2016 Take gift from your mother, it is tax free and best alternative
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
05 February 2016 Your mother can gift you the money. There is no tax implication on either of you.
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