Abt taking a fixed deposit

Hi pankaj

My father got voluntary retirement. is he eligible to put a part of the amount in his wife name(she is having pan card and she is not working)???

guide me.

asked Sep 16 '11 at 08:08 by vignesh 94671223


Your father can transfer any amount to his wife account and there won't be any issues in this. But all income generated from investments made in his wife's name from this amount, would be taxable in your father's hands.

answered Sep 23 '11 at 23:44 by pankaj 5.2k320

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My mother having pan card individually. is it better not to give 15 g in my mother s name?
(Sep 24 '11 at 10:39) vignesh
15g can be submitted to bank to avoid TDS deduction, but in case amount came from your father, your father would need to pay tax on interest in his income tax return.
(Sep 24 '11 at 19:15) pankaj

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Asked: Sep 16 '11 at 08:08

Seen: 2,016 times

Last updated: Sep 24 '11 at 19:15