Joint Account Interest Treatment
This query is : Resolved
Quick Summary
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)?
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)?
01 June 2021
If funds actually belong to that person show it in the name of the second account holder. It's allowed.
01 June 2021
You are welcome.............
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