Joint Account Interest Treatment

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Mr. A.B (Querist)
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31 May 2021 In the case of a joint account with 2 holders where interest exceeds 10000 in a Financial year, how does one show the interest in income tax returns?

I read somewhere that it must be logically the first account holders.

A/C Type is: Either or Survivor

Since TDS is not deducted in the case of Savings Bank Interest, can one show it in the name of the second account holder (if funds actually belong to that person)?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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01 June 2021 If funds actually belong to that person show it in the name of the second account holder. It's allowed.

Mr. A.B

Mr. A.B (Querist)
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01 June 2021 Thank you sir! Appreciate the quick response.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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01 June 2021 You are welcome.............

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