Clubbing of income
Querist : Anonymous
Querist : Anonymous
To any person or association of persons from assets transferred directly or indirectly otherwise than for adequate consideration to the person or association of persons by such individual to the extent to which the income from such assets is for the immediate or deferred benefit of his or her spouse.
it includes cash also
Querist : Anonymous
2. TDS will not be deducted by the bank.
3. The father will show the income in his return and will have to pay tax on the same.
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