Fd interest taxability
This query is : Resolved
Law Aspire
(Querist)
18 March 2018
When MR. A out of his income , deposit Rs. 10 Lakh in Bank saving account and thereafter makes FD in the joint name of Mr. A and Mr. B.
In this joint FD the name of first holder is Mr. B, so the interest earned will be taken as income of Mr. A or MR. B and who will liable to pay tax on this income from interest
In this joint FD the name of first holder is Mr. B, so the interest earned will be taken as income of Mr. A or MR. B and who will liable to pay tax on this income from interest
K Srinivas, CMA CS
(Expert)
18 March 2018
Clubbing provisions will apply and the interest income will be taxed in the hands of Mr A fully
18 March 2018
Yes... I agreed to Mr K Srinivas CMA CS Ji..
Clubbing provision applicable for the interest in the hands of Mr. A.
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Law Aspire
(Querist)
19 March 2018
Thanks you experts
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