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Started By: - genu nambiar - Dated:- 10-9-2016 Last Replied Date:- 12-9-2016 - Parents deposit fixed deposits in the name of children. when the child grows up and gets a job he has to pay . then how can he declare the income from fd deposited by parents. how will they prove the source. - Reply By Ganeshan Kalyani - The Reply = Sir, deposit certificate is given by the Bank at the time of deposit. The name of the child and guardian is mentioned on it inter-alia other details. The same should help .....

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Sanjay Malhotra. - Reply By Ganeshan Kalyani - The Reply = Sir, there are two type of fixed deposit. One is interest pay out at regular interval and the other one is interest accrued and paid at the time of maturity.Sir, in case of interest paid regularly the TDS shall be deducted first under the parent's PAN and later when he grow up and work and has PAN then TDS is deductible under his PAN. As rightly said by Sri Sanjay Sir.Sir my concern is if interest is paid at the time of maturity and .....

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