Tax on Joint Accounts

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  1. SunnyGavas

    SunnyGavas New Member

    Reg Clubbed income on debt/equity funds:
    If we invest in a jointly held ( with my spouse ) debt/equity funds and note that the fund is invested by me alone, here. ( a. Here shall we assume 50% of investment is gifted to my spouse ? )

    After 10 years or so we acquired a corpus of few crores. Now, we move the corpus into a fixed income products ( again a joint account ) as regular income for our family, say retirement.

    Here, how the income tax is derived ? Is this aggregated interest will be split into two holders and to calculate IT accordingly.

    ( The idea is we have to create MF accounts in such way that the retirement corpus can be split under two persons so that to reduce tax liabilities. )
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