Which itr form to use when clubbing income of my daughter

This query is : Resolved

umesh (Querist)
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14 May 2018 Hi,

I am salaried Person receive salary monthly.

I am also receiving interest on Fixed deposit which was in my daughter name (directed by court under motor vehicle accident case)

My PAN recorded in Fixed deposit and TDS deducted and TDS certificate received in my name.

My daughter is minor and Has PAN number in her name. I have not used before for filing the return.

1) Which ITR form should I use when filing income tax return ?
2) Should I keep daughter PAN or Cancel the PAN since I am clubbing the income in PAN ?
3) Is there any penalty for keeping PAN for minor and not filing the return ?

please advice.

Regards
Umesh

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 May 2018 1 Use ITR 1 as TDS deducted in your name.
2 You can keep daughter's PAN as PAN will be required for her later.
3 No penalty for not filing the return when there is no taxable income.

Message likes : 1 times

A.Senthil Subramanian

A.Senthil Subramanian (Expert)
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16 May 2018 CA Seetharaman sir clearly guided you. Additionally, being FD interest is booked in your PAN and having TDS certificate also then you have to show that income in your IT return.

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