Fd regarding

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744 Points Posted on 22 August 2021
if father gave the money from saving account for daughter fd then what is the entry we make in father saving account and also what us the treatment for itr father return
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On 22 August 2021 at 22:09 Report
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This discussion clarifies the accounting entries required when a father transfers funds from his savings account to open an FD for his daughter. It also addresses the tax treatment for the father's Income Tax Return (ITR), specifically noting that the interest earned on the FD should be clubbed with the father's income under 'income from other sources'.

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Chartered Accountant
24588 Points Posted on 23 August 2021
The interest on fd should be clubbed with father's income.. show it under income from other sources
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On 23 August 2021 at 06:14
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744 Points Posted on 23 August 2021
Ok sir thanks
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On 23 August 2021 at 08:50
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Chartered Accountant
24588 Points Posted on 23 August 2021
Your welcome
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On 23 August 2021 at 12:11

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