Banks offer a higher rate of interest for senior citizens. It is normally safe to open joint accounts in the name of senior citizens. We have a joint account where both my parents (senior citizens) are the first two account holders. Then as a safety measure we have included my wife's name and my name also in the joint account. The account is operated on "any one or survivor " basis. In order to get higher interest rate my wife has also added her own savings amount to fixed deposits of my parents' senior citizens account. Now comes TDS on interest income from fixed deposits. Bank is issuing TDS Certificate only in the name of the first holder. Can the third or fourth holder claim benefit of the TDS amount ? How ?
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