Savings ac

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 May 2017 my self and my spouse both are income tax assesses. in post office savings account my spouse name is as ist holder . i want to open PO MIS in my name.. My query is-
can i receive MIS interest in above savings account in which my spouse name is first ?
if yes , how can i show it in it return or
i have to open new ac in which my name is first holder to receive the MIS Interest
kindly tell me who is liable for tax in joint account if both are tax assesses ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 May 2017 You can receive MIS interest in the above savings ac. No need of another ac with your first name. The credit in joint ac is taxable in the hands of the joint holder to whom the income relate to.