banner_ad

Bank account related

This query is : Resolved 
Profile Image

Profile Image

(Querist)
03 March 2012 my client have recently open a new joint bank a/c with his wife in which he will transfer fund of her mother who had died one month before & wants to issue cheques to some other party ( loan) now he wants to give loan to that party who is a partnership firm & want to record loan in two different name can my client give two chq one bearing his sign and another of wife.for loan adjustment.what will be the tax implication on this whole issue
is wife's income (interest) will club in his hand??can he do such transaction. expert advice required.
as mother was senior citizen no retn filed ( as income was under the income tax slab)
thanks in advance.
Profile Image

O.D.SHARMA

Profile Image

O.D.SHARMA (Expert)
04 March 2012 Loan can be given but income will be of 1st holder in Joint account.Even if cheque issued by any one.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details