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Tax treatment for Interest on Joint Bank Account

This query is : Resolved

VAZRAPU SRIKANTH (Querist)
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28 July 2022 My relatives(Wife & Husband) having Joint Bank Account and they have Fixed Deposit in that Bank Account, In case of Joint Bank Account Interest on Fixed Deposit and Saving Deposit should be shown as income from other sources in Wife's ITR or Husband's ITR or in both the Income tax return. Please help

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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28 July 2022 Depends upon what has been declared to bank. Unless specifically declared to bank, bank deduct TDS & declare the FD in first holder's PAN.
If you want to declare it in joint holder's PAN, you need to change the TDS column accordingly, otherwise no need to change.

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