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Clubbing of income

This query is : Resolved 
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(Querist)
02 November 2017 Dear Experts

If any individual transfer/gift a land to his wife without any consideration. his wife sell this property and give loan this sales consideration to her son and earn interest on it.

Income taxable in hands on wife or husband,
1.Capital gain
2. Interest received
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
02 November 2017 1. Capital gain is assessable in the hands of husband.

2. Wife is liable to pay tax on interest.
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