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Section 64 of Income Tax Act, 1961 (Clubbing of Income), Income Tax

Issue Id: - 115180
Dated: 12-7-2019
By:- Haresh Raithatha
Section 64 of Income Tax Act, 1961 (Clubbing of Income)

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Issue : Does the provision of clubbing apply In a case where husband gives cash as gift to wife?

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1 Dated: 12-7-2019
By:- Haresh Raithatha

Consider FDR as a gift rather than Cash.


2 Dated: 21-7-2019
By:- Neekita Jindal

As per section 64(1)(iv), income of individual is to include income of spouse from assets transferred to the spouse without adequate consideration.

hence interest on FDR will be clubbed in the hands of husband only.


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