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Clubbing of income

maulik (AS an article) (69 Points)

19 August 2015

I have transferred 100000 in my mother's bank account by gift. My mother made FD from that A/c . Is interest earned on it is clubbed with me or not?

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6 Replies

mahendra (STUDENT) (64 Points)
Replied 19 August 2015

In my opinion, clubbing araises only in the case of spouse, son's wife, minor child and huf... Any income generated from transfer of asset to MOTHER wil not be clubbed..

Udgam Koomar (Tax Technologist) (1949 Points)
Replied 19 August 2015

Interest will be income of mother after gifting

maulik (AS an article) (69 Points)
Replied 19 August 2015

thank u uttam and mahendra

RAHUL GUPTA (Student CA Final ) (36 Points)
Replied 20 August 2015

Income wouldn't be clubbed in your income

ish kumar sharma (Sr. Manager Accounts & Finance) (301 Points)
Replied 20 August 2015

yes every one is right provisions of clubbing of income will not falls in this case. interest income of mother will not club in his son's income as the same is subsiquent outcome...

thanks