Dear All,
A client of mine has 2 children on whose name he has opened FD's worth 10 lac each. Both are major. Now both children are still studying and have no income. Bank has deducted TDS from both the FD accounts. Can the children file ITR and claim that deduction back? If yes, which ITR would be suitable.
Thanx in advance
The income of both the major children will be assessable in their hands only.
Yes they can file the Income Tax return
And they may opt for ITR 1
Thank you very much Mr. Ashish
RBSM Corporate Advisors Private Limited
Pune
CA
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