Opening a recurring deposit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 August 2013
An individual want to transfer Rs. 25000/- p.m. to bank account of his mother so that Rs. 25000/- p.m. may be transferred to Recurring Deposit account of his mother.
Please advise in context of income tax provisions.
Please advise in context of income tax provisions.
10 August 2013
Son's wife may object, Income Tax Act does not have any restriction. The son can willingly do so.
.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
10 August 2013
Whether interest on recurring deposit would be taxable or exempt under income tax provisions.
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