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Clubbing of income

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(Querist)
23 May 2017 Hii..
query: If a guy wants to gift a amount of Rs.1 Lac to his fiancee, so will the interest received on that FD will be taxed in the hands of the guy (i.e. Clubbing provisions will be attracted or not), if yes, requesting you to quote case law or relevant section...


Regards,
Ankur
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CA Amrita Chattopadhyay

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CA Amrita Chattopadhyay (Expert)
24 May 2017 You can refer to the definition of relative as per Income Tax Act 1961. It does not include fiancee . Thus in your case clubbing provision will not be applicable
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Ankur

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Ankur (Querist)
25 May 2017 Thanks.. So basically, in case of relatives, any income arising from the gift received is to be clubbed with the person giving the gift (i.e. the person who had gifted in the first place)
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