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?
Menu
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.
Recent Topic
- AIS UTILITY
- NPS Premature withdrawl -Tier 1 Account
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
Related Topics
CAclubindia
