Interest of fd

This query is : Resolved

mahavir (Querist)
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25 April 2014 I have some amount in my bank account. I want to make FD of this amount in my wife's account.

will this interest on FD be include in wife's income or my income?

if yes then under which section. please help.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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25 April 2014 this will be included in your total income as per clubbing provisions.

Santosh Kalburgi

Santosh Kalburgi (Expert)
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25 April 2014 Hi,

It will have to be included under the head "Income from Other Sources". Then your total income would be calculated. This income shall also be subject to TDS. And would be clubbed to your income.

Regards,
Santosh G Kalburgi
Cost Accountnat
9742022309

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