17 January 2023
I have a joint savings ac with my son and i am 2nd joint holder. I made a tax saving fd of Rs150000/ online from mobile application for my son. But the fd is issued in my name. Can my son claim the income tax exemption. Please clarify?
18 January 2023
If primary account holder of FD is your son, he can claim the exemption... If not, check with bank for deletion of your name from the FD...
18 January 2023
Yes primary account holder is my son. So my name on the certificate makes my son to claim exemption although my sons name is not mentioned on the certificate
18 January 2023
My dear, I state again that the primary holder in the FD certificate should be your son to claim the exemption... and not the savings account...
18 January 2023
The benefit of sec. 80C is available to primary holder of Fd Certificate. The fd receipt once created for claiming exemption under sec. 80C, it can not be premature. However in your case bank might change the primary and secondary holder only. Contact Bank authorities.
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