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.
1 Answers
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.
My mother having pan card individually. is it better not to give 15 g in my mother s name?
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.
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