Distribution of interest income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 February 2015
My client an individual is working in a Pvt. Ltd. Co.
His wife is providing consulting services i.e. both are
tax payers.
My client asked me that they have a account in bank
in joint names i.e. in name of husband & wife.
They are expected to received interest of Rs. 25000/-
in financial year 2014-15.
Query is:
How this interest income will be distributed among them
for purpose of showing in Income tax return.
His wife is providing consulting services i.e. both are
tax payers.
My client asked me that they have a account in bank
in joint names i.e. in name of husband & wife.
They are expected to received interest of Rs. 25000/-
in financial year 2014-15.
Query is:
How this interest income will be distributed among them
for purpose of showing in Income tax return.
26 February 2015
usually the first joint holder shall be taxed and must declare full income.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Royalty payments to the Mining Department for procurement of murum - GST input
- Section 269ST applicability for capital introduced by partner to his partnership firm
- Intimation under section 245
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
