intt. on joint a/c
This query is : Resolved
atul jaiswal
(Querist)
13 July 2011
sir,
how,intt. on joint bank account will be taxable in both holders.
pls reply...
how,intt. on joint bank account will be taxable in both holders.
pls reply...
CA PARAS BAFNA
(Expert)
13 July 2011
If it is not significant take in one account only.
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If the fund belongs equally to all , divide the interest amount accordingly.
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Otherwise calculate @ 3.5% or @ Bank rate and bifurcate in the joint holders on the basis of amount deposited by them.
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*
If the fund belongs equally to all , divide the interest amount accordingly.
*
Otherwise calculate @ 3.5% or @ Bank rate and bifurcate in the joint holders on the basis of amount deposited by them.
*
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