3 Replies to “How married people with interest from joint fixed deposit account file tax return?”


  1. File ITR-1 Form as your income by way of interest chargeable to income-tax under the head “income from other sources”. As far as joint fixed deposit account is concerned, the return should be filed by the Ist holder of the fixed deposit, no need to file return by the second holder, as all the interest income will be shown by the first holder.


  2. The Interest Income on bank FDs is treated as ‘Income from Other Sources’.

    This is one of the 5 Income Heads. You have to file an ITR only if your total income, from all the 5 Income Heads, during the previous year exceeded the maximum amount which is not chargeable to income-tax.

    If your Interest Income on bank FDs was your sole source of Income during the previous year and exceeded Rs 1,50,000/- , then you have to file an ITR.

    The Interest Income on bank FDs is earned by the 1st named holder, when they are held jointly and hence that person is liable for paying tax.





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