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Section 64 of Income Tax Act, 1961 (Clubbing of Income), Income Tax |
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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? Posts / Replies Showing Replies 1 to 2 of 2 Records Page: 1
Consider FDR as a gift rather than Cash.
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. Page: 1 Old Query - New Comments are closed. |
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