Clarification for multiple sources of income and tax plannin

634 views 1 replies

hello,

my wife and i took some FD jointly......i sumbiited 15g to the concerned bank and my wife is ist holder and i am second to get tax benefit...

now she started working as freelancer and she started earning ....and company is paying remuneration with TDS under section 194J of IT 1961 act....further inquiry revealved that i can file returns for my wife....

so my queries are:

1) since i submitted 15g to the bank and now she is earning from other source, can i file returns.....

2) if i file retruns , which form i shuld use (eg ITR1, ITR2, etc)

3) under returns how should i show both incomes i.e interest on FD and professional fees..is this justiciable

 

thanks

Replies (1)
Hi chandra sekhar, Since co. is deducting tax u/s 194J you shall file ur tax returns using ITR-4 form and you shall show remuneration from company under business and profession head whereas you should show interest income from fd and saving bank under other sources head in itr 4..if your wife has any investment in form of lic, or others and mediclaim then she can avail deduction under sec.80c/ccc/ccf/d as the case may be.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
16 June 2026
Sr. Associate / Assistant Manager | TAS / FDD

Boutique Investment Bank & Transaction Advisory Firm

Gurgaon

CA

View Details
Company
ARTICLESHIP 18 June 2026
Article Assistance

RB KESHRI & CO.

Mumbai

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details