Clubbing of income

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 March 2012 If husband earned a Salary of Rs 50000 n this 50000 rs given to her spouse for household expense, out of this spouse invest rs 25000 n earned interest of Rs 5000 on rs 25000. So, whether the interest income will be clubbed in the income of husband or not ?
As per which provision of Income tax Act 1961.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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02 March 2012 Yes the interest income earned Rs.5000 is would be clubbed in the hands of Husband.
OM SAI SRI SAI JAI JAI SAI

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Guest

Guest (Expert)

02 March 2012 If the amount is given as pin money to spouse for household exp. and income earned by saving & investing such money. Such income will not be clubbed in hands of husband.

anurag

anurag (Expert)
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02 March 2012 Income will be clubbed in the hands on husband.

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