Submit form 15H to bank for not deducting TDS

I am a senior citizen and my income is below Rs 1,60,000 from all sources. I have FDRs of Rs 80,000 (interest @ 8% pa) each in four banks. Should I submit form 15H in banks because in each bank the interest is below Rs 10,000?

— Inder Lal Verma

You should submit form 15H to each of the banks for not deducting tax at source (TDS) as your income is below taxable limit.  

For the past 20 years I have a joint account in a bank with my wife and have a joint fixed deposit of Rs 60 lakh. Now I am retired since 2013. For the total amount of joint fixed deposit of Rs 60 lakh, I am filing income tax return giving my Permanent Account Number only.  Now, both of us have decided to file income tax return separately for Rs 30 lakh each by providing our PAN. Please advise can we file I-T return separately for Rs 30 lakh each. My wife is a housewife and she has no income of her own.

You have indicated in the query that your wife does not have income of her own. Accordingly, the fixed deposit of Rs 60 lakh with the bank must have been out of your income. Therefore, even if you split the fixed deposit receipt into two equivalent fixed deposit receipts, you would be liable to pay tax on interest earned on the amount of Rs 60 lakh. The position, as explained hereinabove, is in accordance with the provisions of Section 64 of the Income-tax Act, 1961 (The Act) which provides that any income arising from the asset transferred to the spouse without consideration shall be clubbed with the income of the spouse who has transferred such an asset.

Thank you for replying to my query in The Tribune dated June 29, 2015. Is it correct that salary for the month of March 2012 has to be included/computed as salary of Assessment Year 2013-14? But TDS of Rs 15,000 on above salary is not credited in 26AS pertaining to AY 2013-14. I have made many written and telephonic requests to the DDO concerned to get the TDS amount of Rs 15,000 credited in my 26AS but in vain to date.  Please advise. — Dr Surinder Singh

In this case, it would be advisable for you to approach the Ombudsmen of the tax department. The tax for the Assessment Year 2012-13 having been deducted by the Himachal Pradesh Government for which you hold valid tax deduction certificate, there is no reason that you should be denied the credit for the tax for the Assessment Year 2012-13. In this connection, you may kindly bring to the notice of the Ombudsmen a circular No. F.No.275/03/2013-IT(B) dated July 8, 2013 of Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, which contains clear instructions for the Assessing Officer to allow the credit for the tax deducted at source where the same is supported by a valid tax deduction certificate issued by the tax deductor.