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OTHER INCOME ONLY INTREST--

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srinivas

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21 Points Posted on 14 July 2023

Dear sir

I have received Rs.60 lakhs from my wife through rtgs and deposited as TIME DEPOSITED IN 2022-23 in my saving bank account.. Now Total income earned of Rs.233000/- for 2022-23 FY. I have been filed ITR-1. But in my AIS SHOWS deposits also . CAN I PAY TAX FOR DEPOSITS ALSO...What Can I do sir? Please give me reply sir....

Attached File : 181160 20230714100627 alepd4517a 2023 1 26as sri.pdf downloaded: 61 times

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Quick Summary

A user received Rs. 60 lakhs from their wife via RTGS, deposited it into a time deposit, and earned Rs. 23,300 in interest during FY 2022-23. They filed ITR-1 but are concerned about the deposit appearing on their AIS and whether they need to pay tax on the interest. The advice given is that this interest income should be clubbed with the spouse's income and therefore is not taxable for the user.