If a retired individual receive provident fund and take two fixed deposits in bank one fd is join name wih wife and other one is with son then interst received from such deposits is whos income?
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Intrest received on fixed deposits
Replies (2)
As per the Clubbing provission the interest earned from the Deposit is the Individuals income. And will be taxed in the Retired Individuals Income.
Thanks & Regards
Ram.
interest would be taxed in the name of 1st holder.
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