Interest on fd

Yes, you can donate any amount with proper documentation. 15G applicable only if his total income doesn't exceed basic limit.

Thanks Sir, One more question. Is this gift amount (which is more than rs.50000/-) is added to his income and taxable?

Dear sir,

Gift deed and registration is not required in this case, but I can give a cheque in my son's name to deposit in his account and convert to FD. Is this OK as for as documentation concerned.

Further, if any amount which was donte by you another or other person and any Income carried out by such donete money to be liable or attract Tax Liabilty on such amount.  

Dear sir, Gift deed and registration is not required in this case, but I can give a cheque in my son's name to deposit in his account and convert to FD. Is this OK as for as documentation concerned.

 

Dear sir, Gift deed and registration is not required in this case, but I can give a cheque in my son's name to deposit in his account and convert to FD. Is this OK as for as documentation concerned.

Form 15G can be given?

Sir,

Continuing query, whether HUF of father can give gift to HUF of son? Is it exempted under eyes of law??

Opinion given by a avocate. Legally gift deed is done when the item is movable in nature. For money given thro cheque/cash/neft need not have gift deed as per lawyer's opinion. As you said, AO may have option to argue that this is transaction in nature of loan or something else. Even if this is treated as loan I am not getting any interest from my son. And AO cannot argue something is 'something else', he should be specific in argument. 
 

It shall be advisable for you to make a gift deed as AO may ask for it at a later stage.