How to Claim TDS for Clubbed Income: Step-by-Step Guide
Learn how to claim TDS on clubbed income in your Income Tax Return using Form 26AS and necessary documentation.
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To claim TDS in case of clubbing, file the Income Tax Return of the person in whose name the income is clubbed. Include the TDS amount in the total income calculation. You'll need to use Form 26AS to check the TDS details and provide the necessary documentation, such as the clubbed income proof and TDS certificates, to substantiate your claim.
FAQs & Answers
- What is clubbing of income in taxation? Clubbing of income refers to the practice in income tax where certain income earned by one person is included in the income of another person for tax purposes, typically to prevent tax avoidance in specific situations.
- How do I file an Income Tax Return for clubbed income? To file an Income Tax Return for clubbed income, you need to declare the total income of the person in whose name the income is clubbed, ensuring to include the relevant TDS amounts and necessary documentation.
- What is Form 26AS? Form 26AS is a consolidated tax statement that provides details of TDS deducted, tax paid, and other information relevant to an individual’s Income Tax amid various income sources.
- What documentation is required to claim TDS for clubbed income? To claim TDS for clubbed income, you will need to provide documentation such as the proof of clubbed income, TDS certificates from the deductor, and possibly Form 26AS to verify TDS claims.