Business Standard Features Aditya Bhattacharya on Financial Assets and Joint Ownership Risks

In a recent article titled “Tax notice? Joint owners must save documents showing who funded asset buy” published by Business Standard, Aditya Bhattacharya, Partner at KSK, shared his insights on the tax implications of joint ownership of assets.

Aditya explained that the issue is not confined to immovable property such as flats or land. “It can extend to financial assets such as mutual funds, fixed deposits, demat accounts, and bank deposits where joint holders are often added for convenience or succession planning,” he noted.

His remarks underline the importance of proper documentation and clarity of ownership to avoid potential disputes or tax notices. As joint ownership structures are increasingly used for both convenience and estate planning, Aditya’s commentary highlights the need for individuals to maintain records that clearly establish the source of funds for asset acquisition.

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