interest earned in a joint account number

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hi, kindly help me with interest earned in a joint account by husband and wife if they are filing two individual returns.
Replies (3)

IN JOINT ACCOUNT ,INTEREST EARNED SHOULD BE CONSIDER FOR 1ST NAME APPEARS,, IN THEIR INDIVIDUAL  RETURNS. OR IF THEY CAN PROVE SPECIFIC INCOME CREDITED BY 2ND PERSON , INTEREST EARNED ON THAT INCOME CAN BE CONSIDER BY 2ND PERSON IN THEIR INDIVIDUAL RETURN.

Dear Sir,
thanks for the information and
can you please tell me which section/rule governing the same

If no TDS is deducted then you can take 50% each.

But if TDS is deducted u/s  194A then only that person (ususally first holder) can take both income as well as TDS

 


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