Loan to spouse

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CA PARAS BAFNA (Practising CA ) (33423 Points)
Replied 29 January 2011

Income from FDR interest accruing to wife will be clubbed in your hand if you do not charge a reasonable interest from her.

However, major son's income from FDR interest will not be clubbed.

mitanshi (ca) (21 Points)
Replied 20 September 2012

sir if a husband give interest free loan suppose 50 lac 2 his wife n out of ds wife purchase a house property ,dn any income from ds house property will be clubbed in husband income??Is dr is any limit of ds loan??PLz tell me what is d procedure to follow for giving ds loan(ny legal documents required)

Jayashree (Software Engineer) (82 Points)
Replied 30 July 2015

Dear Sir,

My question is in the same context of this thread. My spouse had FD income which I did not reported in my my ITR. The reason being I am not sure if clubbing is applicable for my case.

Now my ITR is processed and I received my refund. My spouse is yet to file her ITR. What should I do? As my ITR is already processed, tthere is no chance of my case being transferred to AO right?

Should I go and file ITR for my spouse? Note bank has already deducted TDS on FD income in her name.

please suggest!

Thanks in advance

Ramesh