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Tds deducted by bank on deposits with minor pan number

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(Querist)
15 October 2017 up to last year minor income is clubbed with parents income while filing IT returns , this year pan number is applied for minor and TDS is deducted on fixed deposit by Bank on minors PAN number , now please suggest how to file IT returns. Can we club the minors income with parents income then how to claim minors TDS or else we have to file IT returns seperately
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RAJA P M

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RAJA P M (Expert)
15 October 2017 Clubbing is not available dear. File minor's Pan and signing by parents or nominee.....
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
15 October 2017 Raja ji, Interest income from deposits in the name of minor has to be clubbed with the income of parent



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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
15 October 2017 Only one exception is that such income was earned by minor in his her individual capacity
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
15 October 2017 Parent cannot claim tds refund in case of clubbing . However, Rs.1500 deduction is available per minor child.
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RAJA P M

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RAJA P M (Expert)
15 October 2017 Yes.... You are exactly correct. So, I said it file separately. Then claim the refund...!

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