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Tax on fd interest

This query is : Resolved 
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(Querist)
18 July 2014 sir, I come under 10% tax slab I want to make FD in name of my father so that I can escape tax on it. can I do it by giving loan to him. he is senior retired citizen.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
18 July 2014 Yes you can do it. I would say rather show it as gift instead of loan.
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