Investment and tax implications for spouses with joint account

Income Tax
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1

Hi, my parents are retired and they have a joint account in a bank, my dad receives monthly pension.

I wanted to know if my mom invested in mutual funds from this joint account under her PAN will all the gains be taxed based on her income? (Which is 0 at the moment as she is a home maker now)

Can someone please clarify if this is allowed or not?

This will be very helpful,
Thanks in advance!

2

Hi @srijan_srivastav

Yes, this is completely fine.
Just that if your mother invests from this joint account, the income will be taxable under her PAN.

Hope this helps.