04 July 2016
Team - My wife and me are both salaried persons. Obviously , our tax gets deducted as TDS by employer.
We opened a joint account in another bank where in we both contibute to it and are using it to pay bills and other stuff.
Question - I was trying to fill the tax return online where in there is a cloumn which states to fill bank account details for all the accounts being held.
Now , I am not really sure how the money deposited in this account by my wife would be treated. Do i need to pay tax on that as well ?
Is there a proper procedure to declare the joint account ? Any documentation which i may need to send along with the print out ? Thanks!
CAclubindia
