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Joint Account of fixed deposit

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(Querist)
01 July 2011
In case if FD is done from joint account of Mrs & Mr A. Who will have to pay tax on the interest on the FD?

Beneficial owner is Mrs A but source of income from which FD is made is through Mr A?

Bank gives TDS certificate to Mrs A.

Kindly reply
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chetan soni

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chetan soni (Expert)
01 July 2011 On the basis of prudence & clubbing provisions. If the source of FDR is from Mr. A then Mr. A should pay taxes on the same & claim the TDS deducted by the bank.
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Neha David

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Neha David (Querist)
01 July 2011 Thank you Sir
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