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Accountability of inetrest earned on FD

Income Tax - Started By: - KASTURI SETHI - Dated:- 3-3-2016 Last Replied Date:- 19-3-2016 - Dear all experts, If I gift one FD of more than Rs.one lakh to my wife, whether interest earned on that FD will be accounted for towards my income or my wife's income for payment of Income Tax ? Pl. guide. Thanks. - Reply By Ganeshan Kalyani - The Reply = Sir, in my view the interest income is taxable in the hands of your respected wife. However I welcome experts view on this. Thanks. - Reply By KASTU .....

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