Clubbing of income

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 December 2013 In F.Y.2013, I had given Amt. of rs.10 lakhs to my wife to apply in public issues, but due to the lack of opportunity & knowledge she did not do it & returned the amount back to me before the year ended. All transactions were done by a/c payee cheque. Interest was generated in my wife's name. She is just a housewife & does not have any income. Now I have shown that interest income under my income list. I have not hidden anything. But i have not done any bifurcation that this is my wife's income & this is my income. Is it ok. The full interest income received is added to my income. Plz. advice. Thanks.

Manish Bhandari

Manish Bhandari (Expert)
Follow

08 December 2013 As far disclosure of income is concerned you have complied the same. For bifurcation you not worry just for your records prepare & keep if required to be submitted in future.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

08 December 2013 No issues at all. No need to worry or do anything. Return will get processed.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

SHYAM SUNDER GULATI

eddanapudi murali

Frank

Vijay Singh

ajay agrawal

Subscribe Now

Clubbing of income

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA