Fixed deposit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 July 2015
I have received about 10 lacs from my PPF,I am retired and getting pension.My wife is also income tax payee .I want to deposit this 10 lacs as fixed deposit in my wife,s name ,TDS will be deducted. Can I do it?
07 July 2015
Yes, you can but you should be aware of the consequences. The interest will be taxable in your hands. However, the interest on the interest earned will be taxable in her hands. So while filing the return you will have to segregate the income from the original deposit and the interest on the interest earned every year.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Should I report my US salary for January, February, March in Schedule FA?
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
