IF a person transfers his Fd to his Salaried Son RS 10L as gift whether gift deed mandatory if dept call for info of son u/s 133( 6)
If after gifting the amount interest accrued on said FD will it club with fathers income
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Gift and clubbing
Replies (4)
" IF a person transfers his Fd to his Salaried Son RS 10L as gift "
The transfer doesn't get completed unless the FD gets transferred to son's favour ( in Bank Record)
If the process gets completed, no need of gift deed...........
"If after gifting the amount interest accrued on said FD will it club with fathers income"
interest will be taxable in the hands of son....need not be clubbed in the hands of father...
interest will be taxable in the hands of son....need not be clubbed in the hands of father...
I think interest should be clubbed as it's primary income
Plz help me out, me too confused
Plz help me out, me too confused
no interest will not be clubbed....it will be taxable in the hands of son....the FD is a gift from father to his major son.....
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