Joint a/c and fd

This query is : Resolved

Sarthak Abhyankar (Querist)
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24 February 2014 If assessee and spouse have joint a/c in a bank, firstly assessee have open FD in his name and after maturing FD he want to open a new FD in the name of spouse. For this bank raised objection bcz assessee was the first holder and spouse second holder so FD can be issued in the name of first a/c holder name only.
So in the above case bank objection is right?
please help

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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25 February 2014 Do not renew the FD. Transfer the proceeds to the saving account. Then make a new FD which has the first name of the wife and second name of the husband.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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25 February 2014 Do not renew the FD. Transfer the proceeds to the saving account. Then make a new FD which has the first name of the wife and second name of the husband.

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