Tax liabillty of joint a/c
This query is : Resolved
06 April 2013
Dear all,
Presently, I am not working. My husband transfer some savings monthly from his salary a/c to our Joint A/c in which I am the first party and my husband is the second party. From joint a/c FD is taken in name of my husband and TDS is deducted by Bank.
Firstly, I want to know it can be done or not ??
Secondly, in whose ITR savings bank interest and FD interest will be shown.
Thanks
Presently, I am not working. My husband transfer some savings monthly from his salary a/c to our Joint A/c in which I am the first party and my husband is the second party. From joint a/c FD is taken in name of my husband and TDS is deducted by Bank.
Firstly, I want to know it can be done or not ??
Secondly, in whose ITR savings bank interest and FD interest will be shown.
Thanks
06 April 2013
Yes, you can do like that. And interest shall be taxable in the hands of husband because of sources of investment to earn income met by the husband so it is taxable in the hands of husband.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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