80c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 March 2012
hello sir/mam,
can fd taken on the name of son/daughter also eligible for 80c
what are the provisions if son/daughter minor/major
can fd taken on the name of son/daughter also eligible for 80c
what are the provisions if son/daughter minor/major
03 March 2012
If we see the provision of Section 80C which includes the benefit of FD,if an assessee is an individual,then following person is dependent in relation to Individual, spouse, children, parent of either spouse. FD can be taken in the name of Minor child out of the individuals taxable income. For Minor, the Gurdian & Nominee would be Individual. If taken for Major benefit is not available.
03 March 2012
If we see the provision of Section 80C which includes the benefit of FD,if an assessee is an individual,then following person is dependent in relation to Individual, spouse, children, parent of either spouse. FD can be taken in the name of Minor child out of the individuals taxable income. For Minor, the Gurdian & Nominee would be Individual. If taken for Major benefit is not available.
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