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savings interest on joint savings account

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article trainee
152 Points Posted on 24 December 2018
Savings interest how apportioned on joint holders.
While filling income tax return savings interest shown in all joint holders or not.
Please clarify.
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On 24 December 2018 at 16:42 Report
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Self Employed and Agriculture
1349 Points Posted on 24 December 2018

Taxable in the hands of first account holder

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On 24 December 2018 at 16:51
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article trainee
152 Points Posted on 24 December 2018
Even though answer is same if first holder house wife and second holder is employee
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On 24 December 2018 at 17:10
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Self Employed and Agriculture
1349 Points Posted on 24 December 2018

Clubbing Provisions will apply 

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On 24 December 2018 at 17:21
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article trainee
152 Points Posted on 24 December 2018
Thank you sir for giving information
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On 24 December 2018 at 19:16
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96 Points Posted on 25 December 2018
Sir,
If the second holder[i.e employee] is in the highest slab rate. Then it is better to shown this income in the house wife account by saying she have skills like tailoring, embroidery etc..
And the apportionment of interest is based on circular 16.
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On 25 December 2018 at 15:31


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