Say I have some Fixed deposits which have been accumulating interest. If I gift the entire FD to my children without closing it,is there any tax implication? Must I pay taxes on the interest accumulated up to that point?
Menu
Fixed deposit gifting
Replies (3)
As long as FD is in your name, U will be taxable.
If u gift your FD to your children, then also u are taxable since your children income will be clubbed with your income (being a Guardian) and accordingly U are liable to tax on interest income.
despite of gift, the interest will be clubbed to your income.
If i gift it tomy married daughter, will the position remain the same?
Recent Threads
- A Restaurant registered under the Composition Sche
- GST RATE OF OUT DOOR CATERING
- Non resident taxation & income tax in India
- GST Rate for oral Hygiene Combo Pack
- GST registration - Address error
- TDS on property pu
- Import of goods IMS action related
- Incometax Survey - Updated Return Filing after the
- TCS under 206C(1F)
- Effect on Cost of Control when Bonus Issue is from
Related Threads
CAclubindia
