in bank account instead of primary account holder, can the joint account holder declare the income from bank interest as their income?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170785 Points)
Replied 29 June 2017
If any tax liability is detected to be deferred, it gets disallowed.
neha
(Others)
(420 Points)
Replied 29 June 2017
the account is in dormant state for some years now...so what do u suggets the best approach? close the account?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170785 Points)
Replied 29 June 2017
If not required, better close it. If any joint holder do not have own account better open new account with its Prime holdership......
neha
(Others)
(420 Points)
Replied 29 June 2017
ok...the account has i think abt 4lakhs so if i close it they will give me cheque right...which if i deposit in another account of mom wont it raise another flag since i think heavy transactions raise an alert or something?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170785 Points)
Replied 29 June 2017
Closure cheque will be issued in favour of any present account holder/s.
When it is deposited in new account of the same person (any of earlier holder), no problem would arise. No flag because its cheque transfer. As there is no tax liability over own capital transfer, no query.. No alert....... nothing......
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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