RD/FD in the name of mother

Hello There,

This is okay to do legally as you are transacting with your relatives. But morally, its wrong as your sole purpose behind this is the evasion of tax. Hence, be extra careful in such transactions and do not complicate such things in future.

Hello There,

This is okay to do legally as you are transacting with your relatives. But morally, its wrong as your sole purpose behind this is the evasion of tax. Hence, be extra careful in such transactions and do not complicate such things in future.

Yes you need documentation i.e. gift deed whenever you give some amount to your mother or when your mother gifts you some amount if it's a big amount.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you

Hi,

Yes, it is legally sound.

It is advisable that gift the amount through banking channel and prepare a gift deed for the same.

Hello,

Yes, that would be fine.

Making a gift deed for transfer of the amount to your mother would add sufficient documentation required as per income tax law.

I hope that this answer satisfies your requirements.

Regards,

CA Hunny Badlani

Hi

Show such receipts as gift under Exempt Income in your mother's return.

Prepare gift deed or notarized declarations for such gifts for documentation purposes.