clubbing of income

If both husband and wife has substantial interest, the remuneration shall be included in the total income of that person whose total income excluding the remuneration is greater.

It should be seen that the remuneration is not attributable to the technical and professional knowledge of the director.  Else, clubbing provisions is not applicable

in ur question one thing is missing tht if both the spouse having qualification and experiance then the clubbing would not be done

i.e. the above reply given by pavan will be correct only if  no partner has required qualification and experiance.

Yes Mr Pavan is correct in saying that no clubbing provisions are attrected in your case.

      As per Sec.64 it is necessary to see that whose income excluding remuneration is greater. Another important is to see that the remuneration recd. by the directors is not due to the professional and technical skills.

      The clubbing provisions are not applicable if the remuneration recd. is because of professional or technical skill or knowledge.

As per sec 64 of IT Clubbing will be in the hands of who has more income excluding remuneration.........and if remuneration is receiving due to professional qualification then it will not be clubbed.

Mr. & Mrs. X gives interest free loan to a firm in which their 2 son are the only partners.Will the loan given by them will be included in their  wealth for wealth tax computation?

Yes

Mr.Pavan is correct