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
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.
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