Tds on minors income

sir,

 

I HAD OPNED A RD A/C OUR BANK IN MY DAUGHTER IN 1992 DURING WHICH TDS WAS NOT APPLICABLE, BUT THIS OUR BANKERS HAS DEDUCTED THE TDS ON INTEREST AND REMITTED IT DEPT IN THE NAME OF MY DAUGHTER EVEN THOUGH I INFOREMED  THEM TO REMIT IN MY NAME PUTTING MY PAN NUMBER . SHE IS MINOR AND NOT HAVING PAN NO. NOW PLEASE CLARIFY WHEATHER I HAVE TO FILE IT RETURNS HER NAME OR SHALL I ADD THE INTEREST INCOME TO MY INCOME AND PUT TDS CERTFICATE NO. IN MY IT RETURNS

 

Replies (8)

As the TDS has been deposited with department in her name, better to file ITR in her name now.

SIR,

WHEN MINOR IS NOT HAVING ANY INCOME AND AS THE MINORS A/C SHOULD CLUBED TO PARENT INCOME

WHEATHER IT CORRECT TO FILE IT RETURNS IN HER NAME

 

" I HAD OPENED A RD A/C OUR BANK IN MY DAUGHTER IN 1992 ......"

As per your data, I presumed she should be major now. If still minor, the income gets clubbed into your/wife's income, whosoever is earning more. 

I still don't understand without PAN no. of daughter, how the TDS was deposited in her account?

So, please get Form 16A from the Bank. and act according to the name of Deductee.

SIR,

 

OUR BANKER HAVE REMITTED TDS @ 20% AND REMITTED THE TAX IN HER NAME. SHE IS STILL A MINOR.

 

SIR,

 

OUR BANKER HAVE REMITTED TDS @ 20% AND REMITTED THE TAX IN HER NAME. SHE IS STILL A MINOR.

 

Finally, what you can do is to give the birth date proof to your banker and ask them to rectify their TDS return, so that the TDS is transfer to your PAN, and not in favour of MINOR.

SIR,

 

OK THANK U FOR YOUR GUIDENCE

Most welcome

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