Tax query

khishen shet (ca) (277 Points)

11 December 2011  
the father has a son who is above 18 yrs. the son does not have any income as he is studying. the father has a high income which falls in 30% tax bracket. if the father wants to open a fixed deposit can he gift it to his son or open a fd in his sons name so that the interest on fd will be taxable to his son. as his son doesnt have any income this int will fall in min tax limit. can tax be saved like this?