As per the POSB CBS Manual, 2021; two (2) individuals A & B can open only one Savings Account (Either in A & B or in B & A sequence) while as per Income Tax Act; the Income Tax Liability is for the First Name Individual in case of a Joint account. In other words; can we have two separate Joint Savings Accounts as: 1. A + B and 2. B + A
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As per the POSB CBS Manual, 2021; two (2) individuals A & B can open only one Savings Account (Either in A & B or in B & A sequence) while as per Income Tax Act; the Income Tax Liability is for the First Name Individual in case of a Joint account. In other words; can we have two separate Joint Savings Accounts as:
ReplyDelete1. A + B and
2. B + A