Clubbing Of Income
Querist : Anonymous
In the first year, interest earned on this fixed deposit is taxable in my file.
What about the interest earned on principle amount of Rs. 1,00,000/- in 2nd year? i.e. Other than Interest on interest earned on FD during 1st year.
How the income is taxed in consecutive years, generated on the gift received.?
Querist : Anonymous
Do I understand that if she put this money in FD for 10 days and after 10 days re-invest in FD
Now interest earned on re-investment will not be clubbed.
Querist : Anonymous
it's still not very clear to me. Can you explain this with an example? or can we chat? on this subject.
Interest earned Rs. 10000/- each year for three years.
That interest income will be clubbed in your hands for all the three years.
Now ur wife invests Rs. 30,000/- and earns income of say Rs. 15,000/-. That income will not be clubbed and taxed in the hands of ur wife.
Click here to login now
Similar Resolved Queries
- About TDS & Income Tax
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- Capital Gains on sale of residential flat
- F & O PROFIT REPORTING FOR AY 2026-27
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
