Gift cash to working/earning wife.
This query is : Resolved
05 June 2023
Sir, please guide if a husband bank transfers some amount to an earning wife. The FD is done with that money.
Will the interest income be clubbed with the husband?
And what if the husband is nonworking.
Thanks in Advance
Will the interest income be clubbed with the husband?
And what if the husband is nonworking.
Thanks in Advance
05 June 2023
Yes, the interest income will be clubbed with husband's income, whether husband is working or not.
05 June 2023
Even if the wife is working and filing ITR, What if I show it as a loan to wife
05 June 2023
When wife earns interest income, from the loan amount of her husband, the interest income is taxed in the hands of either of the person whose income is more.
05 June 2023
thank you sir, is there any way to avoid clubbing, as the money is already being transfered
05 June 2023
As per the process accepted, there is no other alternative.
There are different ways for that, for that get some local professional help.
There are different ways for that, for that get some local professional help.
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