Bank FDs- transferring between spouses

V R PREMCHANDRAN (Others) (70 Points)

17 April 2022  
Me & my wife have certain FDs in Bank. To alleviate lesser tax/no tax, can we transfer FDs among ourselves so that net tax on the interest income of respective individual will be less or NIL. If so, how this transfer will to be treated i.e., as gift or so & any document(s) required to be kept for future reference for effecting such transfer of deposits? I'm a pensioner & my wife a Home Maker.