banner_ad

FD on parents name confusion on clubbing provision

Tax queries 341 views 1 replies

Dear Sir/Mam,

I have gone through various online articles regarding saving tax by investing on parent's name.

If I just online transfer post tax savings to my parent's account on monthly or quarterly basis and invest on their name, some article says that interest received would not be in taxable in son's hands and some says clubbing rule will be applied.

For e.g. in following article, author who is a qualified CA says that clubbing would not be applied. 

https://www.charteredclub.com/tax-fd-mother-father/

Please let me know what is the fact. Also what are the penalties when clubbing is applicable but not shown in ITR.  

Thanks

Replies (1)
No penalty payable by you

In my opinion if your parents not file ITR (Due to no income), clubbing rules applicable


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details