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
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- RATE AND HSN CODE
- Taxability of Partnership firm for FY 2025-26
- Portuguese Civil Code IT Return
- TDS AND ITR ISSUE
- EMI ISSUE IN HOUSING LOAN OLD REGIME
- LIC maturity claim whether taxable
- HOUSING LOAN ISSUE
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
