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Minor Fixed deposit interest and tds deducted thereon

Others 300 views 4 replies
If a Father has gifted to his minor son Rs 200000 of which he has made Fixed Deposit in his bank , he has earned 16000 interest on which TDS of 1600 is deducted ,can refund of TDS deducted be claimed by filling the ITR ? who will file the ITR ?
Replies (4)
Return is to be filled by the father and tds will be claimed by him
Provision of clubbing of Income prevail thereon. interest on fixed deposit shall add in the income of father and similarly he can claim tds thereon
Sir if TDS amount is not reflecting in his father 26as
since assessee is minor clubbing provisons will apply in the hands of parents whose total income is more.. in this case father will add FD interest to his income and claim refund.
But here TDS not reflected in father 26AS.. In this situation please receive form 16A from bank and claim refund by filing ITR before 31st August 2018.


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