Fd interest
This query is : Resolved
07 April 2014
In case of Joint A/c the FD interest is chargeable in whose hand i.e. 1st applicant or 2nd.
Sandeep Dharar
(Expert)
07 April 2014
It is chargeable to both of them coz, they r joint owners of the FD.
08 April 2014
if there are three applicant than ??
and two of them are does not have any taxable income.
and two of them are does not have any taxable income.
Sandeep Dharar
(Expert)
08 April 2014
It will b divided equally among all the owners whether there r two owners or 100. If other have no taxable income then its ok they need not have to pay tax.
08 April 2014
are you sure know sandeep dharar .. no clubbing provision would be applicable in this case
Sandeep Dharar
(Expert)
08 April 2014
If there is a relation among the partners then clubbing is possible. Like If Father & son r joint owners then son's interest(if taxable income is below slab rate) will b clubbed in fathers Account.
08 April 2014
So thats what I am telling you know .. see my income is taxable but my father is not than whether it will be taxable in my hand ?
Sandeep Dharar
(Expert)
08 April 2014
No in that case ur father will file a nil return. His income can't b clubbed to ur's
08 April 2014
My father is not filing return since his income is below taxable limit ...now tell me whether clubbing will come into picture or not ??
Sandeep Dharar
(Expert)
08 April 2014
Firstly remove CA in front of ur name. U r not able to understand a small thing. If he is not filing then its ok. But it will not clubbed to ur income.
I think this is clear now. And if not I m unable to reply more..
I think this is clear now. And if not I m unable to reply more..
08 April 2014
Thanks Sandeep I just wanted to confirm caz i dont want to end up paying higher amount of tax at the year end.
No need to reply ..
Just a simple thanks..
No need to reply ..
Just a simple thanks..
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