Clubbing
This query is : Resolved
10 December 2013
My client (X) is a private employee. Her wife (Y) is a housewife, with some interest income. Both have PAN nos. and they annually file their IT returns. Can X transfer money from his saving account to the PPF account of his wife, Y. He will not take tax benefit for the PPF contribution, but will the interest income be exempt or taxable.
11 December 2013
PPF interest is exempt and exemption can be claimed by the husband also even if the income is clubbed.
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