Question on TDS / clubbed income

Dear Chichya,

   When the income is clubbed, tax deducted on the same must also be considered in A's Income. Hence, A is eligible  to claim the TDS amount

Give Bank Your PAN No. and ask for TDS Certificate in your name.

Dear ashish sir ,

Is it possible to get TDS certificate with your own name while actual TDS is deducted on your spouse interest income ??????//

Regards

Madhusudan Kabra

i agreed with  Mr. narayanan  ..............but i suggest you to submit 15 G/H from next year to avoid this type of problems

Regards

Madhusudan

Hi Madhusudan,

you can request to bank for certificate this time by quoting clubbing provision.

Bank at the time filling TDS return face a big problem of PAN No. this is the problem i faced at time of making their TDS return as there is many case like above. the house wife have no PAN No. then we use their husbands name with their name and PAN No. for making it 95% requirement of PAN for TDS return.

so when we issue TDS certificate it is both in the name of husband and wife and the PAN no. is in name of husband.

THANK YOU MR. Ashish for sharing this diffrent but practical approach of TDS .

Regards

Madhusudan

Thanks Juzer,

This seems to be the only good way I have heard so far. I may not possibly try it - not sure how well the bank would help out. And not having time to follow up, I am thinking of paying the amount equivalent to the TDS and continue.

Regards,

Chichya

Dear Mr. Chachia,

For your information many banks are sending circulars/notification to their customers who are holding FDs in joint name for the captioned issue..

Regards

Juzer

No i dont agree with you at all. First you should check Form 15G/H properly. Let me tell you that you should file Form 15G/H only when you are sure that your Gross Total Income will not exceed Rs. 1,60,000 or 1,90,000 or 2,40,000 as the case may be. If any person file Form 15G/15H and has taxable income then Assessing Officer can levy penalty on you.

I know many of you will not agree with me but before commenting on me please do check Form 15G or 15H on which it is clearly mentioned that it is a declaration and its responsibility is with the assessee.

Moreover, section 206AA has been inserted with Finance Act 2009. Now you have to disclose your correct PAN no even if you are filing Form 15H or 15G as u/s 197 lower deduction will be allowed only when assessee will furninsh his PAN no to the deductor.

In the above case it is better if Mr. A provides his PAN no to the bank.