Can husband keep fd in the name of wife?

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 March 2016 Sir,

I want to know A husband who is govt employee filed his return every year, keep fixed of 3 lack deposited in the name of his wife who is house wife .is it necessary for that wife to have IT return,as she is only house wife with no income.

Please suggestt

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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28 March 2016 The interest income earned in the name of wife has to be clubbed in the hands of husband as per clubbing provisions of income tax. No need to file return in the name of wife.

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Amol S Joglekar

Amol S Joglekar (Expert)
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28 March 2016 Yes. No problem. (This is subject to section 64 for clubbing of income OR section 56 for gift) The assessee has to decide once and for all for the same.

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