Tax treatment for Interest on Joint Bank Account
This query is : Resolved
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
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.
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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