Clubbing Income of Husband and Wife and Son and Mother
This query is : Resolved
28 November 2021
Query 1 If Son do online transfer of 100000 to Mother bank A/c and it is again invested for FD a/c of 5 years in mother name (interest payable yearly) , will interest gained every year untill 5 years be clubbing into Son's income or only mother's income slab?
Query 2 if Husband transfer 100000 to Wife Bank A/c and it is invested into 10 years FD a/c with payout as yearly then I know that interest earned is clubbed into husband hand 1st year Let's 6400 is interest of first year.
Again this 6400 let's say reinvested as FD a/c no 2 then will this also get clubbed into husband a/c?
Also 1st year it will be 6400 and 2nd year 6400 like that then all 10 years interest is clubbed into husband income or only 1st year ?
Query 2 if Husband transfer 100000 to Wife Bank A/c and it is invested into 10 years FD a/c with payout as yearly then I know that interest earned is clubbed into husband hand 1st year Let's 6400 is interest of first year.
Again this 6400 let's say reinvested as FD a/c no 2 then will this also get clubbed into husband a/c?
Also 1st year it will be 6400 and 2nd year 6400 like that then all 10 years interest is clubbed into husband income or only 1st year ?
28 November 2021
1 Not clubbed only mother's income slab.
2 This will not be clubbed.
All'the 10 years income will be clubbed.
2 This will not be clubbed.
All'the 10 years income will be clubbed.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Conversion of director loan to equity
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
