Joint saving bank account with either or survivor basis
This query is : Resolved
Dattatraya
(Querist)
02 July 2016
We myself and my wife have a joint saving bank account with E/S operation.
We earn a total interest of Rs.1,02,000 in the FY 2015-16 @ 4% for this account. Please guide me who will have to pay tax for this saving bank interest earning? Thanks and Regards
We earn a total interest of Rs.1,02,000 in the FY 2015-16 @ 4% for this account. Please guide me who will have to pay tax for this saving bank interest earning? Thanks and Regards
CA R SEETHARAMAN
(Expert)
02 July 2016
If you are the earning member and deposited the amount in the account show it as your income.
Dattatraya
(Querist)
02 July 2016
Sir, myself and my wife both are retired persons and we both have pension income, Please guide.Regards
CA R SEETHARAMAN
(Expert)
02 July 2016
If both the pensions are deposited in the ac, then consider proportionate interest on both of you based on pension income.
Dattatraya
(Querist)
02 July 2016
I am really thankful to your answer and the immediate response. Regards
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