Tds on fixed deposits

TDS 489 views 2 replies

My mother was holding a joint FDs with me with her name first and my name second. My Mother has gifted his share in the FDs to me through Gift deed on plain paper immediately after opening these FDs. Accordingly I included the FD Income in my Total Income and calculated advance tax accordingly.These FDs will get matured in next year. These FDs were Senior Citizen FD held jointly In name of Mother and Son. Mother Name First and Sons name second. Accordingly Bank deducted Tds against mothers PAN. Now how can I claim this Tds which was deducted and deposited in my mother's PAN while the income is considered by me in my Return. Is there any better way of entering into the above transaction??
 

Replies (2)
You will have to file return of your mother not showing this clubbed income & claim refund on it. (for future)Other option would be making a declaration to bank that you are the person who will be entitled to income & hence tax should be deducted in your name & certificate should be issued in your name. This situation is covered under income tax rules
I answered from point of view of clubbing but otherwise also the procedure is same


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