Interest on fixed deposit
This query is : Resolved
JAYAKUMAR.M.G
(Querist)
20 March 2014
Hi all
In respect of an individual who is a pesioner deposited with banks his pension as weel as his wife,s pension and retirement benefits as Fixed Depositin his name .Whether he is taxable or his wife is liable to pay income tax on the interest received from banks on these FDS?
Thank you in Advance
In respect of an individual who is a pesioner deposited with banks his pension as weel as his wife,s pension and retirement benefits as Fixed Depositin his name .Whether he is taxable or his wife is liable to pay income tax on the interest received from banks on these FDS?
Thank you in Advance
Nikhil Kaushik
(Expert)
20 March 2014
both the husband and wife shall be liable to tax on their portion of pension and interest on FDs.
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