Clubbing? wife makes fd from funds from husband
This query is : Resolved
01 August 2013
A Husband transfers Rs.5 lacs to his wife. The wife makes a FD of the same. Will this be clubbed in husband's income or will be taxable under Wife's name? If yes, under which Section?
01 August 2013
Interest earned from FD is clubbed in the hands of Husband.
any income earned by investing interest income from FD will be taxed in the hands of wife.
any income earned by investing interest income from FD will be taxed in the hands of wife.
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01 August 2013
Section 64(1)(iv).
.
Interest Income to wife will be clubbed in the hands of the husband as the funds were, belonging to the husband, originally.
.
Interest Income to wife will be clubbed in the hands of the husband as the funds were, belonging to the husband, originally.
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