This discussion clarifies whether income from an Fixed Deposit (FD), funded by a gift from a daughter-in-law to her mother-in-law, is subject to income clubbing rules. The consensus is that income clubbing does not apply in this specific scenario. Therefore, the interest earned on the FD would not need to be declared as part of the wife's income.
07 June 2025
Hello Sir , My wife give gift amount to my mother ( Daughter in law gave gift to mother in law) My mother open FD from that ammount. Will clubbing of income application in this case . Basically for intrest gain from FD , If my Wife need to show that intrest in her income ?