About TDS on minor deposit account

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  1. please let me know that ,if any one want to open a new minor account having age more than 10 years & can sign uniformly and want to deposit in deposit account(FD) such amount that he/she (minor) will get interest more than 10000 P:A .
    Then which type of account you will prefer as per income tax instructions
    1)Major (father) NGO minor(child)
    OR
    2)Minor(child)UNG major(father)
    3)sole minor age above 10 year mode of operation individual
    who's PAN will be for TDS purpose
     
  2. Parul_Gupta

    Parul_Gupta Active Member

    This income would be clubbed with the income of the person whose income is more.

    And PAN of the person whose income is more would be required to be furnished
     
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