POSTED BY February 20, 2014 1:00 pm COMMENTS (10)ON
Please kindly clarify my below query,
Assume that i’m in a higher tax bracket. Investing in FD would attarct further tax on my total income. If i start those FD’s on my wife name who is at present a homemaker, whether the earnings >10,000 still taxable. If not, what is the maximum limit for which we do not need to pay income tax? Is it upto 2 lacs?
Please also recommend an article about step by step guide for filing tax return by an induvidual.
Thanks in advance.