I have created 2 FDs in my children's names from my retiral benefits like pf, gratuity etc. they are students above 20 yrs age with independent PAN and bank a/c. the FDs are created as a gift. kindly clarify whether the intt. received in their a/c is clubbed with my income
babu
At the time of making gift, they were majors?
If they were majors then income therefrom shall not be clubbed as income of minor child is clubbed
A R JADHAV AND ASSOCIATES
Mumbai
CA Inter
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Chirag N Shah & Associates
Mumbai
CA Inter
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