Legal Question in Banking Law in India

I have to assign the fixed deposit to third party, I just want to know that what are the liabilities for the assigner in that case. Further assignee asking for the fund to be tax paid (Free from loan and advances and gifts etc).

Pls advice


Asked on 12/10/15, 1:10 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

12.12.2015

Dear Sir / Madam,

I have already answered this query earlier. However, I shall answer it again for the purpose of brevity. You can assign your Fixed Deposit receipt to a third party provided the principal institution - be it the Bank, Company, Society or Trust permits such an assignment. There is no question of tax involved on such permissible assignment of Fixed Deposit receipt.

Regards,

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Answered on 12/10/15, 8:03 am


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