in bank account instead of primary account holder, can the joint account holder declare the income from bank interest as their income?or does it have to be th eprimary account holder itself
in bank account instead of primary account holder, can the joint account holder declare the income from bank interest as their income?or does it have to be th eprimary account holder itself
Usually primary account holder is presumed to be the owner of the account. Even bank report Primary holder's PAN for any AIR reporting, or TDS deduction, if applicable. But if the ownership of the account can be recognized as that of any joint holder, then the interst credit can be accounted for the joint holder.
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