Money transfer to mother by her son
This query is : Resolved
14 February 2014
What would be impact if son transfer his money in bank a/c to his mother by a cheque or NEFT and mother then make a FD to earn interest on that.
Whether the interest on FD will be clubbed in the income of Son or mother?
Kindly advice
Whether the interest on FD will be clubbed in the income of Son or mother?
Kindly advice
14 February 2014
Hi
Interest on FD is to be clubbed in income of son.
Thx
Interest on FD is to be clubbed in income of son.
Thx
14 February 2014
The interest income will not be clubbed in the son's income. In case of gift to mother, the clubbing provisions are not attracted. The interest income will be treated as mother's income.
17 February 2014
THANKS TO YOU ALL,
PLZ LET ME KNOW HOW TO EXECUTE A GIFT DEED TO TRANSFER MONEY TO MOTHER AND IS IT MANDATORY TO REGISTER IT?
PLZ LET ME KNOW HOW TO EXECUTE A GIFT DEED TO TRANSFER MONEY TO MOTHER AND IS IT MANDATORY TO REGISTER IT?
17 February 2014
Girt of moveable asset can be written on stamp paper and there is no need to get it registered.
17 February 2014
Gift of moveable asset can be written on stamp paper and there is no need to get it registered.
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18 February 2014
Dear Sir,
Thanks,
What should be the value of stamp paper?
and kindly forward a format of gift deed.
Thanks,
What should be the value of stamp paper?
and kindly forward a format of gift deed.
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