TDS on fixed deposit in joint names creates difficulty for both Bank Manager as well as joint account holders. While the joint account was opened mostly for the convenience and security , what was not realized by the account holders about the taxation problem on such accounts . The problem starts with the issue of TDS on the amount of interest with the following issues :
- Should the TDS be deducted in all joint holders or only in first holders name ?
- Should the Form 15G or 15H be filed by all the joint holder or only the first named depositor?