banner_ad

Income tax clubbing provisions

This query is : Open 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
21 November 2011 My wife earns interest on bank FD; the FD money was gifted by me to her. How will the clubbing provisions apply and how should i include the income in my ITR as TDS is deducted in her name. Kindly help.
Profile Image

Prof. Bajaj

Profile Image

Prof. Bajaj (Expert)
21 November 2011 If you have made a gift to your wife, and she is earning FD interest on the same, it will be clubbed with your income.

Even if the TDS is deducted in her name, you can show it in your ITR.

For details you can contact on saurabh.nidhiinvestments@gmail.com

Regards
Prof. Saurabh Bajaj
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
22 November 2011 If I show it in my ITR, will the tax not be charged twice as the TDS has already been deducted in my wife's name. Kindly specify.
Profile Image

Prof. Bajaj

Profile Image

Prof. Bajaj (Expert)
22 November 2011 You can claim the TDS back by filing a Nil ITR in your wife's name.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details