Monday, December 19, 2011

Can I claim tax credit for TDS deducted from my wife's FDs, whose interest I include in my income tax return?

I have a joint account with my wife, who is the first holder of the account. I include the interest earned from FDs from this account in my income tax return. However, we get TDS certificate in her name (being the first account holder)? Can I claim credit for this TDS? or should she claim for tax refund (being less than taxable income) and I pay the tax due on the interest income?

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