Hi,
My wife is having RD in PSU bank for 10 years. She does not have any source of income. Monthly amount which i gave her for home expenditure she saves from it and deposits in RD. The interest from RD is taxable but it does not fall under incometax slab. (i.e. less then 2 lac Rs per financial year).
I have below queries:
1. How do we file a Income tax return on accural basis to avoid a huge tax at maturity?
2. Also during filing of Income tax return do we need any supporting documents? Like Salary employee have Form 16 which we attached during filing Income tax.
3. Will i receive any query from Income tax department stating where she gets the monthly income from as she is a housewife?
Please advice.
Regards,
Prashant
CAclubindia
