Under Indian tax law, if the money used to create a Fixed Deposit belongs to you, the interest earned is not your spouse's income, it is yours. Section 64 of the Income Tax Act, known as the clubbing of income provision, pulls that interest straight into your tax return regardless of whose name the FD sits in. This means two things. First, you must declare that interest income in your own ITR. Second, and this is where most people lose money, the TDS the bank deducted against your spouse's PAN can be claimed back by you. But only if you follow the exact process.