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LEGAL OWNER OF FD
‘Either-or-survivor’ clause lets the surviving joint account holder withdraw Fixed Deposit (FD) funds, but this does not make him or her the legal ownerJoint bank Fixed Deposit accounts often have an 'either or survivor' clause. This allows the surviving holder to access funds after the oth...- Are you living in illusion of safety of fixed deposit held in a bank? Do this to safeguard your FDFD investors often overlook bank failure risks, as only ₹5 lakh per depositor per bank is insured by DICGC. Spreading funds across multiple...
- Daughter loses claim to gold jewellery kept in joint locker with late mother; HC upholds Will bequeathing it to another family memberA daughter's claim to gold ornaments in a joint bank locker was dismissed by the Kerala High Court. The court ruled that a registered Will ...
- Gifts to daughter-in-law are tax-free, but parents-in-law pay tax on income; Why Budget 2026 should fix this anomalyGifts to daughters-in-law are tax-free, but income from these gifts is taxed to parents-in-law due to an outdated clubbing rule. This provi...
- Intimidating tone by I-T dept, Karnataka CA body flags income tax intimations about AIS mismatch, property deal, foreign assetThe Karnataka Chartered Accountant Association has flagged the Income Tax Department's recent intimations. These emails, concerning mismatc...
- Bride’s premature FD withdrawal request denied by Post Office; Odisha High Court rules in her favourThe Odisha High Court ruled in favor of a bride seeking premature withdrawal from her Post Office FDs for her marriage. Despite the Post Of...
- Income from asset transferred to even your daughter-in-law will be clubbed to your income and will be taxable in your hand in this case, says income tax deptIncome tax clubbing: The tax department has released a new brochure saying Section 64(1)(vi), 64(1)(viii) says Income from Assets transferr...
- SBI shareholders, bondholders: State Bank of India appoints new Registrar & Share Transfer Agent (RTA); check detailsSBI shareholders, bondholders: The State Bank of India (SBI) has announced the appointment of a new Registrar & Share Transfer Agent (RTA) ...
- Mother's Day gift: Can credit card be a good gift to your mother especially when she is not earning?Mother's day: This mother's day give her the gift of financial freedom by by taking out a credit card and giving to her. A credit card will...
- How to pick the right nominee for life insurance, bank account, PPF, EPF, mutual funds, stocksWhile a nominee is only a custodian of your assets, choosing the right one can ensure that your legal heirs get their inheritance rightly a...
- Odd tenure FDs are offering higher than normal interest rates: 5 things to know before investingExperts say one must choose an investment vehicle as per their mandate and time horizon. If your risk appetite is low and fixed deposits ar...
- Joint FD accountholders need to beware of ‘either or survivor’ clauseDespite RBI mandate, FD account holders face problems in premature withdrawal on death of joint holder.
- View: Big Tech's increasing influence in finance is an opportunity for banks, not a threatIn the span of a decade, Alexander subdued Greece, Asia Minor, Egypt and the Persian Empire. Like the Macedonian, Big Tech has evinced a ra...
- DHFL lenders may move NCLT against guarantorsBanks, sources said, have examined the possibility of moving the National Company Law Tribunal (NCLT) with the Supreme Court last month pav...
- How nominations work in insurance policies, bank accounts, shares, mutual funds, PPFA nomination is a very effective tool to access assets such as PPF, mutual fund etc. in case of death. If there is no nomination, the legal...
- House gifted to son not taxable: Dilip Lakhani, Chartered AccountantEvery week, an expert selected by ET answers queries from our readers on income tax. This week, the queries include those on tax liability ...
- Why you can't just 'gift' away your tax liabilitiesAny income generated from gifted money has to be shown in the `income from other sources' sheet (Schedule OS) and also in the `income from ...
- How Bombay's status as an erotic entrepot got a big boost during World War IIThe expletive-laced All India Backchod comedy show is only the latest tryst of Mumbai with obscenity. The first goes way back to the 18th c...
- DGCA issues showcause notice to Kingfisher; airlines has 15 days to respondDGCA's action comes one day after the regulator's nonchalant response to ET that there was no safety issue as Kingfisher's planes were not ...
- NTP 2012 must promote deployment of dynamic spectrum access technologies to end spectrum shortageThe technologies and standards that are being developed for CR provide an opportunity for India to lead in their use in a manner that is un...
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