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Declaration format under rule 37ba

Anirudh (Manager-Tax and Accounts) (40 Points)

01 November 2012

Hi,

Has there been any declaration format prescribed under Income Tax act as prescribed under rule 37BA (2),wherein the deductee files a declaration with the deductor and the deductor reports the tax deduction in the name of the other person ...

Is it possible that the deductee suggests an another rate of tax for "other Person"

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3 Replies

Ajay Masaun (CA ) (133 Points)
Replied 24 May 2013

To, Date:

The Manager

State Bank of India

New Delhi

Sub: Declaration for Clubbing of Minors income in the Hands of Parents.

Sir,

With reference to the above, it is declared that, I have a fixed deposits Account of my minor son with your bank, interest on which is subject to TDS, and my son’s income is to be clubbed with my income under Rule 37BA of Income-tax (Sixth Amendment) Rules, 2009 vides Notification No. 28/2009, Dated 16-3-2009.

My detail particulars are hereunder –

Account Holder’s Name (Minor Son Name)
Account No.
Father’s Name
PAN No of Father (for Clubbing of Income)
Address
Contact No. (M)
Assessment Year (AY)

It is further declared that, my minor Son’s income will be taxable in my hands as per Rule 37BA, and So I am willing to declare and pay tax on my Son's income within my Income Tax Return, and therefore, be able to claim credit for such TDS on my children’s investments, please incorporate my PAN Number for the same in your records and issue me a fresh certificate of TDS.

Kindly do the needful at the earliest.

Thanking You,

Yours faithfully,

Fathers Name Minor

(Signature) (Signature)