My Child will just be 18 and I want to plan my fixed income from my child accounts so that I can get atleast 2.5 lakh income tax free. How should I do that ? Need tax planning suggestions to increase file each year for my child showing income and deploy that under fixed income. What income should I show which could be less than 2.5 for my child. I suppose this is tax planning and not tax evasion.
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How to increase tax file
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There are lot of ways in which you can utilize your child file and save your taxes. Like you can gift money to your son and invest in an FD, Now the interest earned on FD will be taxable in the hands of your child and not in your hands.
Plan your tax legally.
For more you can personally contact me
https://www.facebook.com/taxdsj/
Plan your tax legally.
For more you can personally contact me
https://www.facebook.com/taxdsj/
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