Notice from IT DEPTT IF FD AMOUNT EXCEEDS 10 LACS
This query is : Resolved
27 October 2025
Sir,
I was retired from govt service in 2023 and some fund received by me in form of PF, gratuity, commutation and leave in cashment. This FY I have gifted some money to my two sons which was transferred through RTGS and cheque in two banks. RTGS transfer and cheque amount transaction was below 10 lacs each time. My both son opened FD IN their two banks in 9.85 lacs in each bank.
So each son opened FD 9.85 lacs IN Bank of India and 9.85 lacs in punjab national bank.
I want to know whether notice from IT department may be received by my sons regarding opening this FD.
Money is gifted by father to their son which was received on superannuation (govt employee).
I was retired from govt service in 2023 and some fund received by me in form of PF, gratuity, commutation and leave in cashment. This FY I have gifted some money to my two sons which was transferred through RTGS and cheque in two banks. RTGS transfer and cheque amount transaction was below 10 lacs each time. My both son opened FD IN their two banks in 9.85 lacs in each bank.
So each son opened FD 9.85 lacs IN Bank of India and 9.85 lacs in punjab national bank.
I want to know whether notice from IT department may be received by my sons regarding opening this FD.
Money is gifted by father to their son which was received on superannuation (govt employee).
27 October 2025
No. Not likely if the aggregate investment in FD is below 10 lakhs per PAN per year.
27 October 2025
Sir thanks for your valuable advise.
Bank of India में 9.85 lac
punjab national bank में 9.85 lac
Under one PAN number
1. क्या इस केस में भी नोटिस नहीं आएगा?
2. क्या IT Depptt. अलग अलग बैंकों में एक PAN no ke under हुवी FD को देखता है और 10 lac से अधिक हो तो नोटिस serve करता है?
3. क्या मुझे gift deed stamp paper par notary द्वारा attested करके रखनी चाहए या मैं एक plain paper par हाथ से लिखकर भी gift deed बना कर अपने पास रख सकता हूं जिसपर donor और donee के sign हों l
4.मेरे द्वारा gift कीए गए पैसे का source legal हैं तो फिर मुझे चिंता करने की जरूरत है?
5. "क्या मेरे बेटे जिनको मैंने गिफ्ट anount दिया है वो उसको अपनी माता को गिफ्ट कर सकते हैं?
6. अगर कभी नोटिस आता भी है तो उनसे क्या सवाल पूछा जाता है IT Depptt द्वारा?
7. उन्हें क्या पेपर दिखाना पड़ता है. क्या department परेशान करता है गिफ्ट लेने वाले को या gift deed दिखाने से वो संतुष्ट हो जाता है क्यूकी पैसे rtgs या cheque द्वारा फादर के अकाउंट से उनको मिले हैं lll
Bank of India में 9.85 lac
punjab national bank में 9.85 lac
Under one PAN number
1. क्या इस केस में भी नोटिस नहीं आएगा?
2. क्या IT Depptt. अलग अलग बैंकों में एक PAN no ke under हुवी FD को देखता है और 10 lac से अधिक हो तो नोटिस serve करता है?
3. क्या मुझे gift deed stamp paper par notary द्वारा attested करके रखनी चाहए या मैं एक plain paper par हाथ से लिखकर भी gift deed बना कर अपने पास रख सकता हूं जिसपर donor और donee के sign हों l
4.मेरे द्वारा gift कीए गए पैसे का source legal हैं तो फिर मुझे चिंता करने की जरूरत है?
5. "क्या मेरे बेटे जिनको मैंने गिफ्ट anount दिया है वो उसको अपनी माता को गिफ्ट कर सकते हैं?
6. अगर कभी नोटिस आता भी है तो उनसे क्या सवाल पूछा जाता है IT Depptt द्वारा?
7. उन्हें क्या पेपर दिखाना पड़ता है. क्या department परेशान करता है गिफ्ट लेने वाले को या gift deed दिखाने से वो संतुष्ट हो जाता है क्यूकी पैसे rtgs या cheque द्वारा फादर के अकाउंट से उनको मिले हैं lll
27 October 2025
1. No. Not possible.
2. One Bank will all branches, are considered per PAN.
3. As you have paid gifts through banking channel/s, no need of notorizing it. Plain paper confirmation with copy of bank statements along with donor donee signatures (attested by two persons) is valid.
4. Not at all.
5. Yes.
6. Source of fund/s with gift confirmation.
7. Legally speaking if source of fund is authentic; no need to worry. Can submit the proofs for same,
2. One Bank will all branches, are considered per PAN.
3. As you have paid gifts through banking channel/s, no need of notorizing it. Plain paper confirmation with copy of bank statements along with donor donee signatures (attested by two persons) is valid.
4. Not at all.
5. Yes.
6. Source of fund/s with gift confirmation.
7. Legally speaking if source of fund is authentic; no need to worry. Can submit the proofs for same,
27 October 2025
You are welcome.
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