Dear Friends,
I am making an investment on my wife's name and she is not having any income. The investment gives quarterly returns (it is more like a private real estate equity) and the company is deducting TDS. I prefer to show the whole returns under my income and file IT returns under name. To enable this the company has asked my wife to submit Form 15G. But this form has a class saying "of such securities or sums and/or income in respect of units is/are not includible in the total income of any other person under sections 60 to 64 of the Income-tax Act, 1961" This looks little complicated because I will club this return under my income. Otherwise it becomes difficult for me because 10% TDS happening under my wife's PAN No and how can I show that tax deduction under my IT returns. What is the best way to achieve this?
Thanks.
Hi Sravani,
can you elobrate your second option i.e. submitting two Form16G at the begining?
CAclubindia
