joint account
This query is : Resolved
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.
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.
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.
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.
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