Fixed Deposit Benefits: FD is a secure investment option. By investing in it, you get guaranteed returns. But if TDS is deducted on the interest received in FD. In such a situation, there are many ways to save TDS. One of these is to get FD done in the name of your wife. We will tell you in this article why you should get FD done in the name of your wife.
Fixed Deposit Benefits: Today there are many options available for investment. Out of these, fixed deposit is very much liked by Indians. FD is a secure investment option. Investors who want to invest without risk often choose FD. FD gives the benefit of guaranteed returns. 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 FD done in the name of his wife instead of his name, then he gets additional benefits. Many investors are not aware of these benefits. We are going to tell you about all these benefits.
Wife gets the benefit of TDS
TDS has to be paid on the return received on FD. The interest received on FD is added to the income of the investor in a way. Actually, many women in India come in the lower tax bracket. Those who are housewives have to pay zero tax.
If you can get FD done in the name of your wife, then you can save TDS to some extent. At the same time, you can also save tax.
How much TDS will be saved
If interest of more than Rs 40,000 is received on FD in a business year, then 10 percent TDS will have to be paid. In such a situation, if the FD is in the name of the wife, then TDS can be saved by filling Form 15G. At the same time, if the husband and wife have got a joint FD together and the wife is the first holder, then you can also avoid paying tax along with TDS.
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