A deceased person has intererest income from tax Saving FD's. Bank has deducted TDS under the PAN of Deceased person. Now to File ITR, should we proceed to Club that income under the name of his wife.
Or we should file return for deceased as a representative assessee being the wife.
What will be done for tax Credit ?
You should apply in writing to Bank for deduction of TDS in the name of second holder or nominee of the FD account, alongwith death certificate of first holder.
Till that time the legal representative will be required to file the return of the deceased person for transfer of TDS in the credit of legal representative; and claim the TDS in his own account along with tax liability over the FD interest earned.
T R SOOD & CO
New Delhi
CA Inter
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O P Bagla & Co LLP
New Delhi
CA Inter
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