Clubbing of income
This query is : Resolved
07 July 2015
Money transfer to mother.
mother invested money in fdr.
is provisions of clubbing applicable?? and interest on fdrs would be taxable in the hands of son as per clubbing provisions ???
08 July 2015
No clubbing provisions will apply and FDR interest will be taxable in the hands of mother only.
10 July 2015
If money is irrevocably transferred to mother for ever, in such casse she becomes owner, no clubbing provisions will be applicable.
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