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Clubbing of income

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Querist : Anonymous

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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.
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
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

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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.
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anurag

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