Who bears the TDS on Interest in case of Joint Account Holders

You may have a joint bank account or have money invested in Fixed Deposits in joint names. In such a case against whose PAN shall the Interest on TDS get deducted?

In case of joint accounts or joint FD holders – it is the first account holder against whose PAN TDS is deducted.

TDS deductions start when you cross Rs 10,000 in interest income.

Remember to quote your PAN details to the Bank – without which they will deduct TDS @ 20%.

Do you want to know about Form 15G and Form 15H?

Also what to do when banks deduct excess TDS?

Do reach out to us if you have any questions!



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