TDS ON INTEREST
This query is : Resolved
Anwar Shaikh
(Querist)
05 July 2016
Dear experts,
suppose I paid Rs.5,00,000 to my father and he got interest on FD on that of Rs.48,000
Bank deducted TDS of Rs.4800 on that.
now as per clubbing this is mine income then what about TDS deducted by bank.
shall I show income in fathers return
CA R SEETHARAMAN
(Expert)
05 July 2016
Treat it as gift and show interest on FD as father's income.
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