Transfer of fdr in wife name or gift her

If u transffer FDR to ur wife,its interest will be clubbed in ur income only.

Hence there will bw no pft. to show gift to wife.

Hi Kamal,

TDS is deducted in your name and same is credited to IT authority under your PAN. It is not possible to transfer your TDS to your wife name since it is not allowable as per the law.

As long as FD and TDS on interest are in your name, the benefit of TDS can not be shifted to any other person. Hence U alone is taxable on such interest on FD.

FD may be kept in your wife name to avoid income tax but whatever FD going to transfer to your wife is also taxable as gift in your wife hands.

For tax planning, better to pay tax on interest on FD in you name namely.