banner_ad

Tax provisions on interest on post office monthly inc. schem

This query is : Resolved 
Profile Image

Profile Image

(Querist)
27 July 2013 Sir,

If a monthly income scheme of post office is in joint name of 2 individuals, then can the interest on mis can be equally divided between the 2 joint holder for calculating the taxable income?
Profile Image

CMA Ramesh Krishnan

Profile Image

CMA Ramesh Krishnan (Expert)
29 July 2013 yes. you can show equally for each account holder
Profile Image

Nitin Jain

Profile Image

Nitin Jain (Querist)
29 July 2013 Thanks for responding sir,
but doing so will it be right if the investment in po-mis is done from money of only first holder.
In that case that case the total interest income on po-mis should not be charged under income of first holder who invested all the money.?
Profile Image

CMA Ramesh Krishnan

Profile Image

CMA Ramesh Krishnan (Expert)
29 July 2013 Incase 2nd holder not having any income, then add the income in 1st holder only.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI
ChatGPT Perplexity Claude Google AI Grok

CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details