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Is FD earnings >10k for Housewife taxable?

Dear Sir(s),

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.

Regards,

Poovannan

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