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
4 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178099 Points)
Replied 07 November 2017
" 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...........
Ashwin Kumar
(1234 Points)
Replied 07 November 2017
"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...
Rahul Chhabadia
(168 Points)
Replied 07 November 2017
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
Ashwin Kumar
(1234 Points)
Replied 08 November 2017
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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