HELLO FRIENDS, CAN ANYBODY TELL ME IF THER IS A JOINT HOLDERS BANK A/C OF ASSESSEE WITH HIS MOTHER
HE DEPOSITS HIS SALARY AFTER TAX IN THIS A/C INTEREST ON THIS A/C IS TO BE TAXABLE UNDER WHOSE INCOME THE FIRST HOLDER IS HIS MOTHER AND THE MOTHER HAS NO OTHER INCOME.
PLS. CLEAR IT.
HELLO FRIENDS, PLS GIVE ME ANY ANS.
it is taxable in the hands of assessee. by opening an account with mother as first account holder does not make her liable to income tax . it is not a good tax planning.
CAclubindia
