FD - NO tax & HIGHER INTEREST #finance #education #learning

FD with HIGHER INTEREST & NO TAX

🔶If you wish to earn secured fixed income on FD, you can transfer money to your SENIOR CITIZEN parents and do it on their name

🔶 Senior citizens get 2️⃣ benefits on FD
👉They get around 0.5% higher interest rates
👉 Interest on FD upto ₹50,000 can be claimed as a deduction u/s 80TTB

🔶Also gift to parents and major child does not attract clubbing provisions

🔶 Clubbing provisions would get applicable if the gift is made to
👉Wife
👉Son's wife
👉Minor child

🔶 Remember to execute a gift deed while gifting money

#tax
#incometax
#taxplanning
#money #finance #wealth #personalfinance #stockmarket #passiveincome #FD #seniorcitizenfd #cabhagyashreethakkar #bhagyashreethakkar #ca #reelsinstagram #reelsviral #reelkarofeelkaro #explorepage #explore