Gifting fixed deposits to parents

Vidhya Shankar (Manager) (23 Points)

15 November 2018  
hi,

i am a salaried employee in 30% tax slab...i have accumulated savings in SB account which I would like to gift to my parents....please let me know if I trf funds to my mother and create FD in her name, clubbing provisions will apply? should such transfer be supported by any gift deed executed in favour of my mother?