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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Carriage Road Act, 2007 read with Carriage by Road Rules, 2011
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- Sec 44ada applicable only or both
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- Taxability of Partnership firm for FY 2025-26
- RATE AND HSN CODE
- Portuguese Civil Code IT Return
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
