Savings joint account and taxation

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Technical Analyst
21 Points Posted on 05 September 2013

I have Joint Savings Account With my Sister who is married and residing abroad now. 

I received Rs. 200000 cash deposit in that saving account with my sisters name from my clients in last 8 months.

My sister is first account holder in that account, i am the second account holder.

So can i show that cash deposit of Rs. 200000 as my income?? or how that income is taxable ??

 

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On 05 September 2013 at 11:41 Report
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Future CA
631 Points Posted on 05 September 2013
In my opinion, tax is chargable on the basis of earning/source and not on application basis. Since this is your professional earning income, you can show it as your income and you will liable for tax on it OTHER OPINIONS ARE MOST WELL-COME..
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On 05 September 2013 at 11:51

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