Bank FDs- transferring between spouses

Quick Summary
This discussion explores the possibility of transferring Fixed Deposits (FDs) between spouses to minimise tax on interest income, especially when one spouse has significantly lower or no income. While transferring FDs as a gift is generally permissible, it's crucial to be aware of 'clubbing provisions' which might mean the interest is still taxed in the hands of the original owner if the sole purpose is tax avoidance. The advice suggests documenting transfers, especially if funds were previously moved, and considering other tax-saving options like Tax Saver FDs and deductions for medical expenses.

For that, i.e. first transfer & re-transfer, should we have documentation, for future reference?
Yes.If possible take the printout of bank statement both on the dates of transfer and retransfer
Thank you. 🙏

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 29 October 2026
Article Assistant (CA Inter / CMA Inter) - Thrissur

Varma Raja & Associates

Thrissur

CA Inter

View Details