10 December 2019
No! But if your wife earns any income from that gift that income will liable to be clubbed. Ex.- If you have given her gift of 10,000/-, it does not attract the provisions of clubbing. But if you wife creates an F.D. of that 10,000/-, in that case interest earned by her will be clubbed with your income.
10 December 2019
Thank you very much sir, In this respect, I have one more query.. On which page of ITR II, this clubbed income is to be shown shown. Thank you Sir.
CAclubindia
