Income tax on interest
This query is : Resolved
18 February 2015
sir, can a person deposit his retirement benefits on the name if his wife/childern/parents?
Who would be liable for tax on such deposits?
since the deposit is made on the name of wife tds would be deducted on her name/pan.How would then he club the income to his own income
Who would be liable for tax on such deposits?
since the deposit is made on the name of wife tds would be deducted on her name/pan.How would then he club the income to his own income
18 February 2015
Deposits made in the name of wife and minor children has to be clubbed. Clubbing has to be done, refund for TDS has to be obtained by filing return in the name of wife.
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