FD in name of wife
This query is : Resolved
10 June 2010
If any person receives funds in form of retirement benefits on his retirement & he invested same in his wife's name in Bank FD. Whether he can show income from this fd in his wife's return.
any other formalities are required for giving funds to wife
any other formalities are required for giving funds to wife
Pankaj Jhawar
(Expert)
10 June 2010
No the same will be clubbed in the hand of the husband
10 June 2010
clubbed in the hand of the husband
Pankaj Jhawar
(Expert)
10 June 2010
Plz check Sec 64 for the details
12 June 2010
GIFT DEED IS POSSIBLE IN SUCH CASE. HUSBAND CAN GIVE GIFT HIS WIFE FROM HIS RETAINED RETIREMENT BENEFITS AFTER PAYING INCOME TAX . IF HUSBAND IS INCOME TAX ASSESSEE, AND HE HAS PAID INCOME TAX ON HIS INCOME , THEN HE CAN GIFT FROM HIS RETAINED EARNING TO HIS WIFE.
OTHER'S EXPERTS VIEWS ARE SOLICITED.
OTHER'S EXPERTS VIEWS ARE SOLICITED.
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