Clubbing of income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 November 2014
Mr ram rao is retired govt employee,he given Rs 10 lakh loan to his wife out of his retirement money,ram rao wife invested the loan amount in banks.
For the above case interest on deposit money clubbing of income provision apply or not ???
For the above case interest on deposit money clubbing of income provision apply or not ???
CA Rushikesh Kolhe
(Expert)
25 November 2014
Income from assets transferred to spouse or to son's wife without consideration (gift or settlement) will be clubbed with the income of the transferor.
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