I have a joined savings bank account with my father who is a senior citizen.my query is how should i show the interest earned from that savings bank account in my ITR? can both my father and me show the same interest?
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How to show the interest earned from a joined bank account be shown in itr 1?
Replies (1)
Savings bank interest is deductible u/s. 80TTA, so no tax liability till 10000/- interest earned.
Generally, First holder is treated as owner of the account.
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