Joint saving bank account with either or survivor basis
This query is : Resolved
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
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
02 July 2016
If you are the earning member and deposited the amount in the account show it as your income.
02 July 2016
Sir, myself and my wife both are retired persons and we both have pension income, Please guide.Regards
02 July 2016
If both the pensions are deposited in the ac, then consider proportionate interest on both of you based on pension income.
02 July 2016
I am really thankful to your answer and the immediate response. Regards
02 December 2016
No any TDS will be deducted on saving account at all.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
