Clubbing of Income - TDS on Interest on FD

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  1. AKD

    AKD Member

    A portion of my total income for which I am liable to pay income tax is clubbed income of my wife which is interest on bank fixed deposit opened in her name by me from my money. Bank has deducted tax (TDS) on such interest. It is reflected in her form 26AS.
    I have already paid full income tax by way of advance and self assessment tax on my income including the clubbed portion.
    Now my problem is which form to use for filing return? ITR1 or ITR2 ?
    Incidentally, I do not have any income other than pension and interest.
    ITR1 may be used to include clubbed income but has no scope to mention her PAN without which her 26AS cannot be accessed. Will it be possible for AO to verify TDS details if I mention those in Sch TDS2 to ITR1?
    My own 26AS won't show those TDS.
    Alternative is to use ITR2 wherein all particulars of the person, including PAN, whose income is clubbed may be shown in Schedule SPI.
    But again there is a point of confusion.
    ITR2 is recommended for assesses like me if exempt income not chargeable to tax is more than Rs.5000 which is not my case.
    Advise of experts in this matter is requested.
  2. Neha Sharma

    Neha Sharma Active Member

    Dear @AKD

    ITR 2 is mandatory for people who have exempt income more than 5000 and is optional for people whose income is less than Rs. 5000

    Therefore, you can file ITR 2 to disclose the clubbed income.
  3. AKD

    AKD Member

    Understood. But, if I file return in ITR2 and claim TDS by bank against my wife's FD, there will be mismatch with my 26AS.
    Is it not? Will it be acceptable to AO?
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