Investing from joint savings account

Hi, my parents have a joint savings account where my mom is the 1st person and dad(2nd). In case of mutual fund investments, my dad(senior citizen) wishes to invest from this joint account. So technically the investment would be booked on my dad's pan(1st holder) and mom would be 2nd holder.

Since its a joint account would there be any tax issue later on?

Replies (2)

all tax lialility of first holder 

No issue all the provision will be appljcable to the person on whose pan the investment is made. He has to just prove that the money invested in MF is out of his income.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
23 October 2026
Sr. Accountant

SANKARAN & KRISHNAN

New Delhi

B.Com

View Details
Company
ARTICLESHIP 23 October 2026
CA Articleship / Article Assistant

M N Rao & Associates LLP

Vijayawada

CA Inter

View Details
Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details