Is income from a joint account taxable?

mayuri (n/a) (63 Points)

24 July 2013  

Hi Guys,

I have a joint account with my parents both mother and father. Two years back my father made FD on my name in that account. In dec 2012 the fd got matured and the bank has given us the cheque. Since the cheque had my name on it and it was given to me as gift so i deposited it my another bank account operated by only me. Now the question is do I need to show it in my ITR form and where?

I am filling ITR-1 as my income is from salary and FD's interest.

Where should i show this income?

In which section it is to be shown?

Do i need to show the full cheque amount or just the interest accrued in last two years(i have not mentioned the interest accrued on this in past any year as i was unaware).

Please help.

Thank you,


p.s My father is primary holder of this bank account.