Interest income

This query is : Resolved

Jyoti ghogle (Querist)
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02 March 2012 I and my wife have personal saving account and one joint bank account in which i am the first holder.
I and my wife have a salary income.

Now suppose I transfer some fund from my personal bank to joint a/c and from there I made some investment in my wife names. Now my wife receives interest income.

So please tell whether interest income will be clubbed under my wife income or it will be mine as investment is made from my salary income. Pls suggest.

CA. Hari Kishan

CA. Hari Kishan (Expert)
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02 March 2012 Should the source of income channelised from your salary to earn the interest income, such income shall be clubbed with your income ..

anurag

anurag (Expert)
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02 March 2012 income taxable in ur hands.

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