Fixed deposit
This query is : Resolved
11 December 2015
RESPECTED SIR,
A WAS HAVING A FDR OF RS. 20.00 LACS IN HIS OWN NAME. A EXPIRED ON 01.04.2015 THE DATE OF MATURITY OF FDR IS 20.11.2020 A'S WIFE B IS NOMINEE IN THAT FDR.
SIR IN THIS REGARD MY THREE DOUBT ARE AS UNDER;
1. WHAT IS THE LEGAL STATUS IN THIS SITUATION
2.THE BANK WILL DEDUCT TDS ON MR A'S PAN
3. HOW THE INCOME TAX RETURN FOR THE F.Y 2015-16 WILL BE FILED AND WHO WILL FILE AND HOW THE TDS DEDUCTED BY BANK WILL BE CLAIMED IN RETURN OF INCOME ?
WITH REGARDS
A WAS HAVING A FDR OF RS. 20.00 LACS IN HIS OWN NAME. A EXPIRED ON 01.04.2015 THE DATE OF MATURITY OF FDR IS 20.11.2020 A'S WIFE B IS NOMINEE IN THAT FDR.
SIR IN THIS REGARD MY THREE DOUBT ARE AS UNDER;
1. WHAT IS THE LEGAL STATUS IN THIS SITUATION
2.THE BANK WILL DEDUCT TDS ON MR A'S PAN
3. HOW THE INCOME TAX RETURN FOR THE F.Y 2015-16 WILL BE FILED AND WHO WILL FILE AND HOW THE TDS DEDUCTED BY BANK WILL BE CLAIMED IN RETURN OF INCOME ?
WITH REGARDS
11 December 2015
1 Produce death certificate to the bank and transfer the FD in the name of wife.
2 On transfer the bank will deduct TDS in wife's PAN.
3 ITR will be filed in the name of wife to claim refund.
2 On transfer the bank will deduct TDS in wife's PAN.
3 ITR will be filed in the name of wife to claim refund.
11 December 2015
SIR,
IF WIFE B WILL TAKE PREMATURE PAYMENT THERE WILL BE HEAVY LOSS OF INTEREST.
SIR,IS IT POSSIBLE FOR WIFE TO FILE RETURN OF INCOME AS "DECEASED A" TILL THE FDR MATURES IN THE YEAR 2020
IF WIFE B WILL TAKE PREMATURE PAYMENT THERE WILL BE HEAVY LOSS OF INTEREST.
SIR,IS IT POSSIBLE FOR WIFE TO FILE RETURN OF INCOME AS "DECEASED A" TILL THE FDR MATURES IN THE YEAR 2020
12 December 2015
No premature payment it is only change of FD in the name of nominee. Make request to the bankers in view of death deduct TDS in wife's PAN.
After death it is only the income of the wife.
After death it is only the income of the wife.
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