Income tax Query
This query is : Resolved
29 March 2011
Dear Sir,
I am salaried person. I have a post office interest income of rs
36000/- in A.Y. 2010-11. This account is in joint holding with my wife
and she is also income tax payee. Can we take intereste income 50 +
50 by both or single by first holder only
I am salaried person. I have a post office interest income of rs
36000/- in A.Y. 2010-11. This account is in joint holding with my wife
and she is also income tax payee. Can we take intereste income 50 +
50 by both or single by first holder only
CA.Nikhil Gupta
(Expert)
18 April 2011
Generally, in case of joint holding, income i deemed in the hands of First holder. ie in joint account if your name comes first, then it should be your income.
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