Hi friends,
I Have taken 3 F.D's with SBI in the name of my mother.
What is the tax implication for that.
2 Replies
Tejas Jain
(Chartered Accountant)
(314 Points)
Replied 18 May 2012
Is IT Tax Saving FD...?
If its not the Interest of the FD will be taxable in the hands of your mother subject to bsic exemption limit.
If your mother dosn't have any other income apart from FD interest thn please submit form 15G or 15H if Mother is senior citizen for not deducting TDS
CA jatin k Gohil
(CA Practice)
(95 Points)
Replied 18 May 2012
Tax implication depand upone the FD Interest amount & Other income received.
If your mother dosn't have other income other than FD interest, than u may submit form 15G or 15H
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