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Fixed deposite on wife's name

(Querist) 29 July 2013 This query is : Resolved 
good day sir,

I am NRI/ Seafarer and i kept ONE LAKHS fixed deposit in wife's account against bank Locker (It was mistake),
it can be converted into TAX free deposit,
can it be considered as clubbing of income,
by Law my all income is tax free,


please advice some solution to come out from this trap, Fixed deposit is for 3 years...
thanks and regards
Report Abuse
Dr. Jyothi Vishwanath (Expert) 29 July 2013
Make the FD for five years and it will be tax free..

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