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Joint saving bank account with either or survivor basis

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(Querist)
02 July 2016 We myself and my wife have a joint saving bank account with E/S operation.

We earn a total interest of Rs.1,02,000 in the FY 2015-16 @ 4% for this account. Please guide me who will have to pay tax for this saving bank interest earning? Thanks and Regards
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
02 July 2016 If you are the earning member and deposited the amount in the account show it as your income.
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Dattatraya

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Dattatraya (Querist)
02 July 2016 Sir, myself and my wife both are retired persons and we both have pension income, Please guide.Regards
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
02 July 2016 If both the pensions are deposited in the ac, then consider proportionate interest on both of you based on pension income.
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Dattatraya

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Dattatraya (Querist)
02 July 2016 I am really thankful to your answer and the immediate response. Regards
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Advocate

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Advocate (Expert)
02 December 2016 No any TDS will be deducted on saving account at all.

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