Taxability in case of joint account holders
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 November 2017
The primary account holder(Husband) is an NRI and transfers his income from foreign country to this joint account in India. His wife is the secondary account holder who stays in India. The earnings of the wife is also deposited in this joint account.
1. Who would be the taxable person in this case of joint account holder. Primary holder (Husband) who is NRI or his Wife as secondary holder?
2. Can Income of wife be accounted separately from joint account and her ITR be filed for her part of Income?
1. Who would be the taxable person in this case of joint account holder. Primary holder (Husband) who is NRI or his Wife as secondary holder?
2. Can Income of wife be accounted separately from joint account and her ITR be filed for her part of Income?
09 November 2017
what is important is who is the OWNER of income. Income is taxed in the hands of OWNER of income.
so to say, wife's income, although credited in joint account, shall be taxed in wife's hands.
so to say, wife's income, although credited in joint account, shall be taxed in wife's hands.
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