Interest on fund transfer to spouse
This query is : Resolved
Quick Summary
19 January 2024
Dear Sir/madam,
Could you please advise on below query.
I have received critical illness insurance payout from insurance company.
Please advise whether I can transfer amount to wife bank account to make a fixed deposit. The reason I am asking is that interest on FD will get included in my taxable income if I do fixed deposit.
Thank you
Gajanan
Could you please advise on below query.
I have received critical illness insurance payout from insurance company.
Please advise whether I can transfer amount to wife bank account to make a fixed deposit. The reason I am asking is that interest on FD will get included in my taxable income if I do fixed deposit.
Thank you
Gajanan
19 January 2024
Savings bank interest earned will be clubbed in case of no fixed deposit.
19 January 2024
Sir, do you mean FD interest will not be clubbed? FD interest is taxable Invoice of spouse then?
19 January 2024
Fixed deposit interest also clubbed
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst on travel by air for business purposes
- Requirement under FEMA &RBI
- CLOSING STOCK QUERY
- CAPITAL GAIN REDEVELOPED FLAT
- Error in uploading Form 10BD
- DUE DATE FOR ITR FILING
- Loss of interest in PF transfer from EPFO to Trust
- Gst reverse charge mechanism to be claimed in the month of payment
- Missed TDS
- Residential status of non resident
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
