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Tax liability

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(Querist)
08 August 2015 i gifted 70000to my(23yr old) son,who deposited a/c payee cheque ln jt.s/b of his&mine,further fdr of his & mine.am i liable to pay income tax on interest of fdr.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
08 August 2015 No. Your son is liable to pay Income Tax on Interest on FDR. Clubbing Provision do not apply.
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