Saving tax by gift
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 July 2012
I have F.D in bank upto Rs.15 Lacs & got the interest. Suppose if I gift the the same to my wife & other relative. then can it will be clubbed in my income & what about the taxability of the interest recd on this F.D
19 July 2012
Interest will be clubbed in your hands if you gift the amount /FD to your wife, minor children, or son's wife.
.
If you gift to other than the above persons, interest will not be clubbed in your hand.
provided no indirect benefit is being taken by you or your wife or minor children etc.
.
If you gift to other than the above persons, interest will not be clubbed in your hand.
provided no indirect benefit is being taken by you or your wife or minor children etc.
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