14 March 2010
1. If a fixed deposit is made by earning member in his spouse name, interest is clubbed and taxable under other source. In this case, Form 15G can be filed only when the income of the person who made deposit is not taxable and not that of the spouse on whom the deposit is made. Is mu understanding right??
2. When a housewife earns income through sources such as taking tuition at home, other classes and makes deposit in her name, whatz the taxability in respect of such interest deposit?
if total income is less than taxable amount but the interest exceeds 5000 and attracts TDS?
What should be specified in the occupation column in form 15G for such person?
14 March 2010
1. If a fixed deposit is made by earning member in his spouse name, interest is clubbed and taxable under other source. In this case, Form 15G can be filed only when the income of the person who made deposit is not taxable and not that of the spouse on whom the deposit is made. Is mu understanding right??
2. When a housewife earns income through sources such as taking tuition at home, other classes and makes deposit in her name, whatz the taxability in respect of such interest deposit?
If total income is less than taxable amount but the interest exceeds 5000 and attracts TDS, can she file Form G?
What should be specified in the occupation column in form 15G for such person?
CAclubindia
