Reporting of interest and TDS found in Oint Account is often named after the first account holder, which can also give an income tax notice to the second holder. This happens when the FD or deposit is from the earnings of another member, but reporting is in the name of the wrong person. Therefore, it is very important to check the AIS i.e. Annual Information Statement carefully. If an entry does not match your earnings, then mark it ‘Not Entrely Correct’ through feedback. This provides correct information to the tax department and unnecessary notice can be avoided.
Income tax notice came without earning? Joint Account may make a mistake. Paisa Live | Income Tax Notice Without Earning? There can be a mistake in joint account
