Hi ,
My mother is a housewife, she has an SBI account and she dont have any other source of income.
I am planning to transfer some amount of my income to her account & open a Fixed Deposit (online FD -e-TDR/e-STDR) , and then submit Form 15G to avoid TDS .Is this legal? Do I need to show the interest amount in my IT returns & pay tax according to my tax bracket ?
Regards
Jai