17 May 2019
I received certain amount after my retirement(PSU employee) and from that amount I made FD for 5 years in the name of my major son. Five years period is over . Now I want to take back that amount and want to make FD in the name of my wife. I want to know that whether this FD amount will be clubbed in my income or not
18 May 2019
It means my wife will show it as gift received from his son(any gift deed required). If she makes FD of that amount and then shows the interest income as her income then there is any problem arises or not?
18 May 2019
1)Further the source of son is not being asked in future? Or it will by default treated as gift from father?? 2)How much amount father can give to his son?? 3) Income generated from my spouse FD amount also not clubbed in my salary ??
19 May 2019
Please clarify in detail 3rd point You means if they know it's my retirement amount which I gave to my son and he is giving back to my wife and if my wife makes FD of the same amount then interest income will be clubbed in my income?? Why the son's amount is not treated as his only income after taking gift from his father?or it will still be treated as my amount directly