Taxation of Joint FD with Mother
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- Опубликовано: 20 окт 2024
- In this video we have discussed about the taxation of a joint FD with mother who can be a senior citizen and also, who will pay tax on the interest gained from that FD or related investment...
Tags:
Income Tax, Taxation, Joint FD with Mother, FD with Mother, Joint Investment with Mother, Senior Citizen, Who will pay tax on joint FD with mother if mother is not earning and is a senior citizen...
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Thanks Sir. Aapke har video boht help ful hote hai
Sir apka video bahut usefull hota hai. thank you.
Thanks sir,
Aapke valuable comments k liye.
If two persons have 2 joint accounts in first account father is the earning member and primary holder and daughter is second holder and in second account daughter is primary holder and father is second holder...now from first account where the father who is the first holder transfers to next account where daughter is the first holder...here the question is if the amount which is transferred is falling in tax bracket then should the daughter pay tax as she is the first holder in this second account though father has paid tax on his income based on first account?
Saving joint me maa ka naam 1st hai...agar main intrest ko is a/c me leta hu to tax lagega..intrest pe????
Informative...you have very good clarity in talk 👍
If in this case (Son with his mother) joint FD (either or survivor ) if mother die naturally , then who will be owner of that FD/Account ? If son will be owner , then how this money will go to another account holder ? And how the beneficiary will pay tax for this ?
Dr brother, nicely explain
Very informative sir
Sir ,plz also guide for Taxation of joint FD with wife
sir what about if my mother account is not joint account and she have a separate individual account and mine (son of her) have also individual salaried account. means i directly transfer some amount say 5 lacs to her account and she then makes FD from that account then who will have to pay tax on interest gained from that fd ....is me or my mother ....further in that case shall we have to execute the gift deed....
sir, i have read in various blogs that money transferred from son to mother account and interest gained by mother from that amount invested in FD or any other instrument is not tax liability of son (which is tax liability of husband ...in case of husband and wife transaction case )...plz guide or provide clarity
Most ppl do this to evade tax, it department may ask details if u transfer any amount regularly to her account,then for her its income frm other source which u hv to verify , this is my persinel view
Thanks sirji
Awesome sir g
Crux:
if you wish to open any deposit with bank for your parents who are aged 60 years or more with no earning then ,
* do make a gift deed for such transfer of deposit in their name to prevent taxation of income from that deposit in your return; clubbing of income.
* for the interest upto 50,000 make form 15g/h so as no tds is deducted from the interest derived from the deposit created and
* if interest amount exceeds 50,000 then for tds is deducted where credit can be claimed by way of filing of return to be filed.
and deductions against interest from savings/term deposit opened with bank/po/cooperative bank can be claimed upto 50,000 u/s 80TTB
Thanks for info...I have one question. The we tax is saved here as Mother and Son. Is it possible to do same as husband wife if wife is not working
Agar joint account me first holder senior citizens and second holder ka age 25 year he. To agar Fixed deposit open kia jaye to interest rate senior citizens ke hisab se lagega ya normal interest rate lagega. Please reply.
Sir..my dadaji died and he had an FD on which I was nominee..so in whose hands the interest amt will charged after its maturity..
if gift deed needs to be done on the same date of transferring money or we can make the deed later?
Dear sir 1 lak loan in the name of joint ac. first holder and 3rd holder have no file of itr only 2nd holder have itr so is it mandatory to show 31st march 23 loan full balance in 2nd holder itr balance sheet ?
Great information sir
🙏sir ek question ...agar ma apna fd se adult beta ka naam joint kare ..us par kuch boliye
All your posting is so good sir could you please explain in English or english subtitle because I dont know hindi
hi sir my pan card lost how to find my pan number mere pass acknowledgement number nahi hai kaisa karna sir
Thanks
Who will pay the income tax in Husband and wife joint accts
Resp, sir,
Gift deed karne ka procedure bhi batane ki kripa kare.
Nice information sir.
Sir.....I am doing jewellery business,my and I have taken composition scheme.what are the records to be maintained.please suggest me.
Sir , please prepare some specific video for sr. And super sr. Citizens ,Thanks
How to executive gift deed?
Thank you for the informative video. Sir I have a couple of questions regarding this matter:
1. Can the same thing be done for wife i.e. making a gift deed and FDR in wife's name and thus saving tax?
2. Will this still not be considered as clubbing of income and added to the income of son/husband since the amount invested belongs to someone/husband?
I had sent an email regarding paid consultation at your Mayur Vihar office but did not receive any reply. Can u pl. he
H?
* execute a stamp duty paid registered gift deed to your wife
* in case no deed executed then income form the Fd shall be clubbed with your income
and beware too that if later you and your wife separate then the asset for which deed is prepared cannot be revoked. will be in her hands after separation too
V.V.Thanks
In case of minor, sir
Sir my father is senior citizen but mother is not
What tax rate will have to pay them in joint fd
Fd p jiska first name hoga uski tax libility hai
Dear sir, when we pay some amount to our relatives like... Wife, Mother, Daughter, Brother,Sister etc it is exempted from Gift Tax. But that money if fetches any Interest or earns then it is Taxed from the hands of donor. My question is...when Given as Gift why should it be Taxed from the donor? Why should Tax Dept think that it is given to save tax? Once gifted it is their lookout whether to use it for buying Gold, Invest in FD etc.
Suppose,I have gifted 5Lakhs to my Wife (Home maker) & she buys Gold for her. Now legally speaking whose Gold is it?
If Wife's...then If she sells that Gold...whose money is it?
If the money belongs to wife & keeps FD & earns interest...whose money is that?
Good evening sir, I & my father are having survivor or eather bank account. 10 years back in good faith, I gave 15 lakhs for F.D and in a short period, it's getting mature. Now the dispute is going on & we are not in good relation. So at the time of maturity, I can remove all the money or my father can put me in trouble. My father is primary holder & I am the second holder in bank ac. For the last 12 years, I am only operating this account and maintaining balance in account. I am having a physical Fd, chq book & bank passbook with me. So what should I do? Please reply with your convince.
If fs is joint name then at maturity , both account holder signature r needed, the amount will get credit in acount, any one of u can withdraw this amount as this is either survivir acount, in future if u hav child maje fd by his nane and make urself guarantor,hope tht helps
Thx u sir
Husband and wife ki joint fd ho skti hai
what is status of NRI or Nro FDR
I m regularly filed my ITR but I m doing something my own from last 1.5years but didn't get money too much like not transaction more than 2lakh do I need to file ITR or can leave this time
Sir mera mere father ke sath joint account hai , is account se hi unke naam fd hai, agar intrest yearly 50000 se jyada aata hai to Amoount kiska mana jata hai, to tds kiske naam se katega
Jiska first name h acount m
Share capital gain aur Mutual Fund gain do no ME 1.00 lack exemption alag alag milata h ya do no total karake 1.00 lac milata h
any long tern capital gain derived from assets for whom stt is paid is exempt upto 100,000 and if exceeds then excess value is taxable @10%...112A
in your case it will be together if both forms long term sale where stt paid
Sir I am jobless but my father had done fd of 8 lakh in my post office account with my signature. Will it create any problem for me in future related to income tax department
Yes if ur account holder
Gift kaise karna h sir
Sir same condition hi but total maa ke name pe hi deposit Ho or interest 50000 se jyda Ho to kya hoga Maine 15h form de rakha hi to kya maturity me bhi TDS katega plz reply scime 19monrth fd hi
Kat sakta h, u have to file itr refund
A और B दो Person है दोनो का joint a/c मे A का नाम पहला है और B का नाम दुसरा है और दोनो person under 60 age (60 साल से कम) है तो उस a/c की income किसके Itr मे दिखा सकते है?
in that case generally in the hands of that person whose PAN is registered with the bank.
jiske form 26as mei show hora hai wo return mein show krskata hai ..
P.S deduction for individuals aged less than 60 can claim upto 10,000 u/s 80TTA
Sir I received retirement( VRS) benefits now I want an FDR jointly with my wife (either or survivor). And first name be of mine and second name will be of wife. Pl tell who will pay tax on interest .
Llllllllllllll
U as u hv retire and u geting pension
Sir 15 h form kb file krte h
Sir,
My uncle, a bank employee, did not nominate his daughter who is now unmarried and unemployed. After death of his wife, will and how his daughter get the family pension.Please reply.
She has to make a sucession certificate frm court
What if my mother is not a senior citizen??
Than intrest 40000 is limit from all sourceces
🙏
How to be execute gift deed
with local authorities.
Regards dr Pawan ji
Can I gift money to my wife out of my terminal benefits to save tax as she is house wife
yes you can, but cannot save tax by transfer of asset to others. It shall be clubbed in your hands always unless registered stamp duty paid deed is executed.
मेरी माताजी को रु 10000 मासिक पेंशन मिलती है , उनकी खुदकी ही आय मेसे बचे हुए रु दस लाख की FD करि है जिसमे पहला नाम मेरी माताजी का है और दूसरा मेरा , इस परिस्थिति में टेक्स का दायित्व किसके पर होगा , उनके खुद के कहते से ये FD करि है , कृपया मार्गदर्शन करे , धन्यवाद।
manyavar, jaiswal sir ne video mein clearly bata diya hai ki iss case mein uske haatho mein jiska pan bank mein registered hai + senior citizen 50,000 tak ki chutth pa skta hai
@@RahulSingh-os2cl धन्यवाद , भाईसाब
F.D ka system hi govt. Ko khatam kar Dena chahiye.
Pls explain in English.
Clubbing provision applicable even though gift deed excuated... Kindly check
Give the link if any, to clarify ?
Kya bolra baba ...kuch samja kya tuje to
Great information sir