SFT-005 REPORTING FOR FD

Hi, 

I hold joint account with my wife in ICICI Bank. I'm the primary account holder and my wife is the 2nd account holder. 

I did some FD from net banking and I see ICICI Bank reported this FD in 26AS/SFT for both of us and it appears in the both 26AS. 

FD certificate was issued in my PAN and TDS was deducted from my PAN only, but SFT shows in both PAN.

This is the only FD that was reported like this, even though I did few FDs in ICICI Bank.

Moreover, this reporting is inconsistent with other banks where I hold joint account with my wife and NO FD was reported to her PAN in SFT, but always in my PAN. 

I think this joint reporting in wrong. 

Even after complaining to ICICI, they said it needs to be reported to both PAN. 

Does anyone know why is it so ? 

Thanks

Rajib 

 

 

Replies (4)
Quick Summary
A user is seeking clarification on why ICICI Bank reported a Fixed Deposit (FD) under both their primary account holder PAN and their wife's secondary account holder PAN in the 26AS/SFT, despite the FD certificate and TDS being under the primary PAN. This contrasts with other banks where such FDs are only reported under the primary PAN. The user believes this joint reporting is incorrect. Responses suggest that reporting guidelines can vary between banks, and while SFT is for reporting purposes, the FD interest is practically taxed as income for the first account holder.

Hi. There are no clear guidelines hence each bank does the filing as per their consultant advice.

I'm querying from the taxation point of view. What's the taxation of joint account holder for FD ? 

Show income in your ITR. For her you can give report/Feedback in AIS.

Thanks for clarifying. SFT is a reporting thing and not a taxing thing. Fd interest is considered income in the hands of first holder practically as TDS is deducted in that PAN

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details
Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
19 September 2026
CA/Semi-CA/BCom

Pravin Sarvaiya

Mumbai

CA Inter

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
Featured 21 September 2026
Consultant - Reporting

Finrep Advisors LLP

Mumbai

CA

View Details
Company
ARTICLESHIP 18 September 2026
Industrial Trainee

Twenty Point Nine Five Ventures Private Limited

Noida

CA Inter

View Details