Dear All,
In respect of a Bank A/c - Joint Holders,
(a) who will be taxable - Joint Holder 1 or 2 or both?
(b) who will get deduction u/s 80TTA - Interst on Savings Bank A/c - Joint Holder 1, 2 or both?
Thank You in Advance
Arun (student ) (112 Points)
06 January 2018Dear All,
In respect of a Bank A/c - Joint Holders,
(a) who will be taxable - Joint Holder 1 or 2 or both?
(b) who will get deduction u/s 80TTA - Interst on Savings Bank A/c - Joint Holder 1, 2 or both?
Thank You in Advance
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166227 Points)
Replied 06 January 2018
1. Unless TDS deducted, anyone who invested the capital can claim the interest, but TDS gets deducted in first name, so always better to keep investor as first or sole holder.
2. First holder
Arun
(student )
(112 Points)
Replied 06 January 2018
CA Rakesh Ishi
(Working at Private Company)
(8100 Points)
Replied 06 January 2018
There are many advantages to sharing an account with your partner. For one, it makes it much easier to pay joint bills - saving you the hassle of sending money to each other. It can also make it easier to keep track of your joint monthly spending. On the other hand, some people prefer to keep their finances private.
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