FD RATE OF INTEREST FOR HUF ACCOUNTS
This query is : Resolved
Quick Summary
22 April 2020
Can HUF ac get benifit of senior citizen FD rate of interest in banks if kartha is senior citizen
23 April 2020
The Karta of the HUF cannot be offered higher rate of interest, even if he is senior citizen, as the beneficial owner of the deposit is the HUF and not the Karta in his individual capacity.
Inference - RBI Mater Circular.
Inference - RBI Mater Circular.
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23 April 2020
HUF and Karta are not separate entity, you can not avail senior citizens FD interest since Karta of HUF is senior citizen.
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