TaxTMI 
TaxTMI 
issue relating to gift
18 Dec 2010 
3 Replies 
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Interest taxation: interest on a fixed deposit transferred to a married daughter is taxable in her hands, not clubbed.
A transfer of a fixed deposit to a daughter on her marriage is not taxable; subsequent interest is taxable in the daughter's hands, clubbing provisions do not apply where she is married and not a minor, and the transfer should be genuine and not revocable to ensure the interest is taxed to the transferee. (AI Summary)
A transfer of a fixed deposit to a daughter on her marriage is not taxable; subsequent interest is taxable in the daughter's hands, clubbing provisions do not apply where she is married and not a minor, and the transfer should be genuine and not revocable to ensure the interest is taxed to the transferee. (AI Summary)
A person can transfer a Fixed deposit of Rs.25,00,000/- to his daughter on the occassion of her marriage. (1) Whether it is taxable/ not (2) Whether intrest on fixed deposit is chargaable to tax or (3) whether if interest income is clbbed with her father's income?