Taxability of 5 yr tax saving fd

This query is : Resolved

atul (Querist)
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10 May 2014 My father had invested in 5 year Tax Saving FD in 2011 in joint name with my mother. He expired in 2013.

We had requested the bank to close the FD. As per the bank, the FD has to continue for 5 years. I am finding it difficult to account for the quarterly interest being earned on the FD.

Please advise

CA Jitender Sharma

CA Jitender Sharma (Expert)
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10 May 2014 Dear Atul,

You can ask bank the Interest certificate and form 16 for TDS deducted on the same on yearly basis.

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Rupesh Jain

Rupesh Jain (Expert)
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10 May 2014 YOU CAN MAKE APPLICATION TO BANK WITH YOUR FATER DEATH CERTIFICATE . THAT PLS TFR THIS IN YOUR MOTHER NAME AND DEDUCT THE TDS IN YOUR MOTHER NAME.

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