Regarding fixed deposit
This query is : Resolved
PANDIAN BRIGHT
(Querist)
09 December 2016
Respected Sir,
One of my client deposited an amount of 14,70,000 as FIXED DEPOSIT in his WIFE'S name. how to show this item in his balance sheet.please give me idea to clear this.
thanking you
One of my client deposited an amount of 14,70,000 as FIXED DEPOSIT in his WIFE'S name. how to show this item in his balance sheet.please give me idea to clear this.
thanking you
09 December 2016
This may be shown either as gift or loan but is shown as gift to wife the interest received on FD will be clubbed in the hands of husband u/s 64 so better to show it as loan.
PANDIAN BRIGHT
(Querist)
09 December 2016
thank you very much sir
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