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Respected Reader
There are two individual persons (say A & B) who has a joint account in their name. Both A & B deposits Cash and uses bank balance to pay installment of Housing loan taken combined by both (a & b). I want to know how i am to treat the bank account and their entries in their balance sheet. since here tax deduction is involved due to housing loan taken so proper treatment is required.
There are two individual persons (say A & B) who has a joint account in their name. Both A & B deposits Cash and uses bank balance to pay installment of Housing loan taken combined by both (a & b). I want to know how i am to treat the bank account and their entries in their balance sheet. since here tax deduction is involved due to housing loan taken so proper treatment is required.