fixed deposit
This query is : Resolved
sandeep choudhury
(Querist)
08 April 2009
If the income of three members of a family are deposited in the bank as fixed deposit in the name of a single member, is there any tax implications to it. All the members are filing the returns and are below the taxable slab. If a big amount is deposited in his name then is he answerable to the tax department
08 April 2009
No, There is no implication.
DEEPAK GOYAL
(Expert)
09 April 2009
its depend that the income is from cash or from bank, if cash is deposited in bank fixed deposit than he will be answerable to the tax department.
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