{
  "type": "article",
  "title": "TDS Cut on Your Wife's FD? Here's Who Actually Gets to Claim the Tax Credit",
  "summary": "When a husband invests in a fixed deposit in his wife's name and the bank deducts TDS, the interest is treated as the husband's income under clubbing rules, so the husband, not the wife, must claim the refund in his ITR.",
  "content": "After retirement, many people park a chunk of their savings in a fixed deposit (FD) opened in the name of a homemaker wife, hoping to keep the money safe and trim their tax outgo. The idea sounds simple enough. The complication shows up the moment the bank deducts TDS on the interest that FD earns. That is when the obvious question arises: who is actually entitled to claim back the tax that the bank has cut, the husband or the wife?\n\nThe Clubbing Rule Decides Whose Income It Is\nIncome tax rules leave little room for doubt here. If the money genuinely belongs to the husband and is simply invested in the wife's name, the interest earned on it is not counted as the wife's income at all. It is treated as the husband's income. In legal terms this is known as the clubbing provisions, meaning the interest credited in the wife's name gets added back into the husband's total income.\n\nCan the Wife File a Form to Stop the TDS?\nSpeaking to TrendKia, tax and investment expert Balwant Jain broke down exactly how this works. He explained that the income tax law does allow a declaration to be filed, under certain conditions, so that the bank does not deduct TDS. For senior citizens, this facility is available only when there is no tax liability on their total income.\n\nBut this is precisely where the catch lies. In this situation, the wife is not regarded as the real taxpayer on the FD. Even though the deposit stands in her name, the interest income is folded into the husband's income under the clubbing provisions. For that reason, the wife cannot submit any such form to prevent the TDS from being deducted.\n\nSo How Does the Deducted TDS Come Back?\nThere is no cause for worry, because the money is not lost. The husband can claim the TDS that the bank has deducted at the time of filing his own income tax return (ITR). The ITR form provides a specific option for exactly this purpose.\n\nThe method is straightforward. While filing the return, show the full interest amount as part of your total income and enter your wife's PAN number carefully and accurately. Once this is recorded correctly, the TDS deducted by the bank is credited directly to the husband's tax account, clearing the way for the refund.\n\nWhat this means for you\nIf you have opened an FD in your wife's name, this directly affects you.\n\n• A no-TDS declaration form filed by your wife will not work on this FD, because the interest is legally treated as your (the husband's) income.\n• The deducted TDS is not lost, but only if you show that interest in your total income in your ITR and enter your wife's PAN correctly, will the refund get credited to your account.\n\nQuestions & Answers\n\n1. Whose income is the interest on an FD held in the wife's name?\nIf the money belongs to the husband and is invested in the wife's name, the interest is added to the husband's income under the clubbing provisions.\n\n2. Can the wife file a declaration to stop TDS from being deducted?\nNo, in this case the wife is not treated as the real taxpayer on the FD, so she cannot submit such a form.\n\n3. How can the deducted TDS be recovered?\nThe husband can claim this TDS while filing his ITR, as the return provides a specific option for it.\n\n4. What should be kept in mind in the ITR to get the refund?\nShow the interest amount in your total income and enter your wife's PAN number accurately, only then will the TDS be credited to your tax account.",
  "url": "https://trendkia.com/en/money/patni-ke-nama-ki-fd-para-kata-tds-kisaka-riphnda-banega-klabinga-niyama-ki-puri--1499",
  "category": "Money",
  "publishedAt": "2026-06-17",
  "tags": [
    "fixed deposit TDS",
    "clubbing provisions",
    "FD in wife name",
    "income tax return",
    "TDS refund",
    "senior citizen tax",
    "PAN number"
  ],
  "language": "en",
  "site": "TrendKia"
}