if a person makes capital gain and puts the amount in a joint account (between him and his wife), can the interest income be shared/split between them (reducing the tax-liability) or would it still be considerd interest income of husband only?
Menu
Interest on capital gain and joint account
Replies (1)
1st name in the account is the sole holder of account unless percentage mandate is provided to bank.
2nd holder is just a co-owner without any specific power over the amount, unless the mandate is there in bank.
2nd holder is added to ease the withdrawl in case of death of any holder, co owner will get the amount without much trouble.
Recent Threads
- Waste Management services
- Seeking Clarity: New Transport Allowance Limits (D
- Query regarding Consolidated Gift Deed for Bank Tr
- TDS u/s194IB - Joint Ownership
- Free GST Reconciliation Tool in Google Sheets R
- NRI return after due date refund case
- TDS u/s 194J - training honorarium
- WHERE TO REGISTER UNDER PTRC AND PTEC ACTS ?
- Key Corporate Compliance Requirements for Private
- Gst Non Filling Return Notice
Related Threads
CAclubindia
