Income Tax on Fixed Deposit FD
This query is : Resolved
14 April 2011
I have one FD & have my son as a nominee AND another FD with my wife as nominee.
After my death, would my son & wife be required to pay income tax when they claim the amount (FD & interest). Pls.
Regards,
After my death, would my son & wife be required to pay income tax when they claim the amount (FD & interest). Pls.
Regards,
15 April 2011
They need not to pay any tax on Principle amt of FD. However TDS would be deducted if it crosses the ceiling.
They need not to pay any tax on Principle amt of FD. However TDS would be deducted if it crosses the ceiling.
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