FD source of Income
This query is : Resolved
Quick Summary
02 June 2025
Hello Sir,
My mother is senior citizen pensioner her annual income is around 5 L ( pension 2.5 L + Agriculture income 2.5 L).
I am salaried and I have open FD (tentative amount 20L) from My mother account be transferring amount to her account to get senior citizen benefit.
Now its showing Purchase of time deposits amount as 20 L. If Income tax ca ask query for same if Yes how to reply? Or Shall I need to show this amount in ITR. If yes in which section?
My mother is senior citizen pensioner her annual income is around 5 L ( pension 2.5 L + Agriculture income 2.5 L).
I am salaried and I have open FD (tentative amount 20L) from My mother account be transferring amount to her account to get senior citizen benefit.
Now its showing Purchase of time deposits amount as 20 L. If Income tax ca ask query for same if Yes how to reply? Or Shall I need to show this amount in ITR. If yes in which section?
CA R SEETHARAMAN
(Expert)
03 June 2025
Say it's gift from son exempt from tax.
Message likes :
1 times
05 June 2025
Thank you sir, Can I need to show gift to relative in ITR2 for against exempt income in other section?
CA R SEETHARAMAN
(Expert)
05 June 2025
Yes, show it...
...
...
Message likes :
1 times
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