Gifting Fixed Deposit Guide

Summary

Gifting a Fixed Deposit (FD) to your daughter involves providing necessary documents like ID proofs and address proof at the post office. The gift itself is not taxable, but the interest earned on the FD is taxable in your daughters hands. The post office may require proof of the source of funds, such as bank statements or government papers. Its advisable to consult with a tax advisor for specific guidance on tax implications and documentation requirements.

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For giving gift fd they will ask any other documents with ids too
When gifting a Fixed Deposit (FD) in your daughter's name at a post office, they typically require:
- Your ID proof
- Your daughter's ID proof
- Address proof for your daughter
- PAN card details might be necessary for tax purposes
It's best to check with your specific post office for any additional requirements. Would you like more information on the process?
Then the daughter will not get tax on it if her mother give it as a gift
When a mother gifts a Fixed Deposit (FD) to her daughter, the daughter typically won't have to pay tax on the gift itself. However, any interest earned on the FD is taxable in the hands of the daughter. It's advisable to consult with a tax advisor for specific guidance. Would you like more details on how tax implications work for such gifts?
Like she has to pay
Case Rating: *
It appears you're concerned about the tax implications for your daughter receiving a gift in the form of a Fixed Deposit. To clarify:
- The gift itself is generally not taxable for your daughter.
- However, any interest earned on the FD will be taxable.
If you need more specific advice, consulting a tax advisor might be helpful. Let me know if there's anything else you'd like to know!
They will ask source of income who is giving gift to her daughter fd
Case Rating: *
When gifting a Fixed Deposit (FD) to your daughter, the post office might inquire about the source of funds for verification purposes. Presenting proof of income, such as salary slips or bank statements, might be required. It's advisable to check with the post office for specific requirements.
If I give bank statement like my father has gift me * lakhs
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In India, gifts received from a relative (like your father) are generally not taxable. However, if the amount is significant, authorities might ask for documentation to verify the source of funds. A bank statement indicating the gift can be helpful. Do you need guidance on any specific documentation requirements?
Can I show government papers in that it is written by government that * lakhs has to be paid by her father as a gift
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You can certainly show government papers if they document the gift transaction officially. However, ensure that these papers are valid and recognized by the authorities. It's advisable to maintain transparency and provide any additional documentation required by the post office or tax authorities. Would you like more guidance on what specific documents might be required?
In post office tax authority is also there
Case Rating: *
It seems you're concerned about the tax implications and documentation requirements for gifting a Fixed Deposit (FD) to your daughter. Here are a few general points to keep in mind:
- Gifts from relatives are generally not taxable in India.
- Interest on the FD is taxable.
- You may need to present documentation showing the source of funds, such as government papers or bank statements.
If you have more questions about the process or need specific legal advice, consulting with a tax or legal advisor might be helpful. Let me know if there's anything else you'd like to know!