banner_ad

joint account

This query is : Resolved 
Profile Image

Profile Image

(Querist)
22 August 2009 sir,
my mother and brother opened the fixed deposit jointly for 5yrs and my brother wants to show this as 80c deduction. and my mother was not taking that amount for 80c deduction.
is it eligible r the joint account cant be shown as 80c deduction.
Profile Image

CA.Tarun Maheshwari

Profile Image

CA.Tarun Maheshwari (Expert)
22 August 2009 Generally, in case of joint account, the person whose name is appearing first is treated as the main holder of the account. But if you can prove that FD was made out of the income of your brother, then he can claim 80C.
Profile Image

O.D.SHARMA

Profile Image

O.D.SHARMA (Expert)
23 August 2009 No for 2nd joint account holder.only for first holder 80 C can be claimed.16A will also be in same way.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details