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Joint bank account
can anyone tell me the benefits of opening account jointly with the spouse.
also pls tell me that who among both will take advantage of 80c and interest u/s 24(b) in case of home loan in joint names.
thanks
Replies (4)
Joint accounts are opened for planning investment purposes. As the intt income earned will get distributed subject to tds deductions. Secondly in case of house property if husband is paying intt nd principal amount then he can claim such deduction in his return. Regatds
Thanks mr manoj.
Means income from interest will be equally distributed among both husband nd spouse.
Is there any other advantage ??
I dnt remember more from tax areas.
No worries boss ...anyways thanks a tonn
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