Need A Financial Product Forums Loans How to save tax burden on joint fixed deposit accounts

This topic contains 0 replies, has 1 voice, and was last updated by  Abhimanyu 3 years, 3 months ago.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
  • #48008


    I have joint savings bank account in Canara Bank with my wife. I am in service and my wife is housewife. Fixed deposits are linked to savings account. If I open fixed deposit on my wife’s name and keep my name as secondary, will I be able to save tax on it? Is it necessary to swap positions in savings account as well so that the interest earnings are shown on my wife’s name?


    Nina Thakkar

    Whatever interest you earn on a joint fixed deposit account is clubbed to both the joint holders. Therefore, you cannot escape the tax burden on them.

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.

About Us

Simplypaisa, a web initiative by Elite Wealth Advisors Ltd, has the primary objective to help readers make smart financing decisions. What is smart finance? How to make smart financing decisions to procure assets or to meet one’s personal needs? Information is critical to make smart financing decisions: be it to purchase your dream house, a car, to start a business or to enable an entrepreneur to meet his/her working capital needs.Read More...


Elite Wealth Advisors Ltd.
S-8, DDA Shopping Complex,
Near Jeevan Anmol Hospital,
Mayur Vihar Phase-1, Delhi-110091.
Phone No: 011-42445800
Email :

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.