There are many options available for investment today. Among these, fixed deposits are liked a lot by Indians. FD is a secure investment option. Investors who want to invest without risk often choose FD. You get the benefit of guaranteed returns in FD. Along with this, the investor also gets many other benefits. Many investors are not aware of another benefit of FD. Yes, if a man gets an FD made in his wife's name instead of his own name, he gets additional benefits. Many investors are not aware of these benefits. We are going to tell you about all these benefits.
Wife gets TDS benefit
TDS has to be paid on the returns received on FD. In a way, the interest received in FD gets added to the income of the investor. Actually, many women in India fall in the lower tax bracket. Whereas those who are housewives have to pay zero tax. If you can get an FD done in your wife's name, you can save TDS to some extent. At the same time, you can also save tax.
How much TDS will be left?
If more than Rs 40,000 interest is received on FD in a business year, then 10 percent TDS will have to be paid. In such a situation, if there is an FD in the name of your wife, you can save TDS by filling Form 15G. At the same time, if husband and wife have made a joint FD and the wife is the first holder, then you can avoid paying tax along with TDS.
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