Advice on investing the the property sold amount in FD
Interested in investing in FD? Wondering if it is worth it for a senior citizen instead of splitting among family members and investing? Get answers for all your concerns on this Ask Expert page.
I sold an old house for 12 lakhs and want to invest it in FD, so that I could earn monthly interest. I'm not working, retired from my business.
How could I deposit this amount in FD without the tax issue? Since I'm a senior citizen, I will get higher interest rate if deposited in my account, instead of splitting them across my family members.
How could I do that?