Joint bank accounts
This query is : Resolved
CHHELU GOVALIYA
(Querist)
05 October 2013
dear experts
my wife and me have joint account in bank of India. our ac. credit interest Rs. 3258 and closing balance is 158958.
me and my wife filling it return
my query is
01 interest income credit which ac me or my wife in income tax return
02 bank balance is which ac me or my wife in income tax return
pls guide me
thanks
my wife and me have joint account in bank of India. our ac. credit interest Rs. 3258 and closing balance is 158958.
me and my wife filling it return
my query is
01 interest income credit which ac me or my wife in income tax return
02 bank balance is which ac me or my wife in income tax return
pls guide me
thanks
CA VISHNU GAVKARE
(Expert)
06 October 2013
If you know whose money is lying in bank then take on that proportion else take it equally.
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Soumitra Basu
(Expert)
07 October 2013
see whether your wife is a earning member or just a name lender. if earning member then interest and balance should be shown proportionate wise otherwise you should show the entire interest income and the balance in your return.
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