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Clubbing of income

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Querist : Anonymous

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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 ???
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CA Rushikesh Kolhe

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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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