TDS on Fixed Deposit in Joint Names Simplified !

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1960
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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?
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