Hello ,
I have Balance of @ 120000 Rs. . in my A/c ( Salaried Emplooyee paying tax around 10000 )
and 40000 & 10000 in my Son's A/c ( Age +18 )
I would like 2 make 3 FD of Rs. 50000( 1 is from my A/c & another 2 is from my son's A/c ) > So I would like 2 knw how I can make FD so tht no provision of Clubbing is apply . Whether I should make trasfer my fund to my Child's A/c or Widraw Cash and deposit it in to Child A/c ??
Make me suggest .
Thnx in adv.
Can Any 1 ?? Suggest me >
If u can prove the amount deposited in our childrens account is self aquaired by them from their personal skils then clubbing provision not applicable.
OM SAI SRI SAI JAI JAI SAI
| Originally posted by : nisargbhavsar | ||
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Hello , I have Balance of @ 120000. in my A/c ( Salaried Emplooyee paying tax around 10000 ) and 40000 & 10000 in my Son's A/c ( Age +18 ) I would like 2 make 3 FD of50000( 1 is from my A/c & another 2 is from my son's A/c ) > So I would like 2 knw how I can make FD so tht no provision of Clubbing is apply . Whether I should make trasfer my fund to my Child's A/c or Widraw Cash and deposit it in to Child A/c ?? Make me suggest . Thnx in adv. Can Any 1 ?? Suggest me > |
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deposit cash in the account of son and make FD
ensure that the account of you have your PAN updated, and the account of son has PAN updated of son.
interest below 10000 would not be subject to TDS under single pan
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