Joint saving account in bank.
This query is : Resolved
12 March 2012
x and y have a joint saving a/c in bank.
who is the liable for tax on interest income
who is the liable for tax on interest income
12 March 2012
Normally the interest is taxable in the hands of the FIRST named party.
However, you can also distribute the income in equal proportion.
However, you can also distribute the income in equal proportion.
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