Clarification for multiple sources of income and tax plannin

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.

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