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Clubbing of income

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 July 2012 assessee after his retirement, out of the money received on retirement invested some money in the name of his wife and major son... investment is in P.O. MIS. Now who is iable to pay tax on interest on this investment. ??
whether it is liable to be clubbed in the hands of the assesee.. ??
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Amol S Joglekar

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Amol S Joglekar (Expert)
23 July 2012 Yes. sec 64. Clubbing of income. Transfer of asset without consideration.
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