banner_ad

How can I save IT on maturing RD of 10 years

Tax queries 417 views 5 replies

Hello,

I have recurring deposit of 10 years in nationalized bank in the name of minor daughter. It will get mature in next 10 days. Is there any way to save income tax including TDS by bank? Appreciate your kind advise.

Best Regards,
Sachin.

Replies (5)

Whether the daughter attained majority now?

No, she is still minor.

Whether you as guardian were/are filing your ITRs?

Let me give you some more info. We had to open this RD as per law and court direction for our adopted daughter until she turns 18. Unfortunately we can not renew the RD 10 years. So the maturity amount will get added to our savings account with tax implication and we will have to open new RD in the name of daughter for remaining years until she turns 18 and the entire proceeds will be added to daughter's account.

Moreover, we as a parent both file ITRs regularly.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
04 May 2026
Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
01 May 2026
Chartered Accountant

Agrawal Jain & Co.

Raipur

CA

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details