If an income is clubbed in the hands of spouse, do accretion from such income also be clubbed in the hands of the spouse?
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Clubbing of income
Replies (4)
yes say for eg. husband put fd in the name of his wife so the interest from fd will be clubbed in hands of husband but if the interest is again invested then the return on that investment would be taxable in the hands of wife as per clubbing provisions of I.T.ACT
yes.
ok. so as per jenil shah's eg. interest from fd in the hands of husband and income from the interest amt in the hands of wife - no clubbing of the income from interest in husband's hands.
Yes, correct interest on interest income from FD should not be clubbed.
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