Dear Sir/Madam,
I have a joint saving account with my wife and she is not earning. I am the primary account holder and generally I deposit money in this account. Can the interest earned in this account be shared by both my wife (50%) and me (50%) ? If yes, then does she need to fill IT return by showing 50% of the total amount deposited by me as a gift in this account?
Kindly suggest how to share the interest earned in this joint account by me and my wife.
Regards
Menu
IT return on the interest earned in joint account
Replies (2)
Whole internet income is charged in ur hand. because clubbing provisions apply and amount transferred without adequate consideration .
FD interest will be taxable fully in your hands. Nothing will be taxable in hands of your wife.
Recent Topic
- While e filing otp not generating
- INCOME FROM CLOSING OF NSS -1992 -EXEMPT UNDER W
- GPF AND COMMUTED PENSION RECEIVED
- How do I choose the correct trademark class? Can I
- Error in totalling salary amount in AIS
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
- Need CA to certify shareholding pattern.
- Ltcg savings
Related Topics
CAclubindia
