Income from joint accounts
This query is : Resolved
Vaishnavi Nistala
(Querist)
29 July 2016
If i have a joint account to my commission income. Can i add the income amount to my joint account holder for income tax calculation in order to get less tax.
Amol S Joglekar
(Expert)
29 July 2016
income is to be added to the person who rightfully owns it.....
the way you are trying to change the COLOUR of in come using JOINT account may prove to be DANGEROUS and at times rigorously PUNISHABLE......and this for what? saving FEW hundreds rupees of TAX?
You need to decide by yourself, taking into account the RISK associated with it
the way you are trying to change the COLOUR of in come using JOINT account may prove to be DANGEROUS and at times rigorously PUNISHABLE......and this for what? saving FEW hundreds rupees of TAX?
You need to decide by yourself, taking into account the RISK associated with it
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