FD of my mother liquidated and wrongly tranfsered to an account of 30 percent IT slab

FD in the name of my mother was liquidate and by mistake transferred to my account. I am in 30 percent tax slab. do I have to pay tax on entire amount liquidated or something can be done to save tax.
Need assistance
thank you
Replies (2)
Quick Summary
A user's mother's fixed deposit (FD) was mistakenly liquidated and transferred into their personal account, where they fall into the 30% tax bracket. They are seeking advice on whether the entire liquidated amount is taxable or if there are ways to mitigate the tax liability. The key point is that tax is typically only applied to the interest earned on the FD, not the original principal amount.

Taxe is on interest income only. . original principal amount remains capital only. no tax on capital FD amount
Thank you Mr Parvin for sparing time to look into my query. have a great day. regards

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 22 October 2026
Articleship intern

Srinath Manikanta

Hyderabad

CA Inter

View Details
Company
Featured ARTICLESHIP 31 October 2026
CA Articleship

apricus india

Navi Mumbai

CA Inter

View Details
Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
28 October 2026
Assistant Director/ Associate Director-Finance & Accounting

Krea University

Chennai

CA

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details
Company
30 October 2026
Asst Manager Accounts

Goodwin Pumps India Pvt Ltd

Chengalpattu

CA Inter

View Details