Clubbing of income

The interest income has to be clubbed with income of husband as the interest income is gained from the income invested from the earnings of the husband. The source of income is from husbands income so it has to be clubbed with husbands income ..

Here u will have two aspects

1)Transfer of income with out Transfer of Asset

2)Transfer of Asset for inadequate consideration

Here u invested in investments in your wifes name..please inform the source of cash.if it is out of income in which you tax paid,no clubbing provisions will not apply otherwise u are liable to pay tax on interst arise there on

The source of Income is compansation recieved from Govt on complusery  land aquisition by Govt , the  share recieved  on my name, i Invested in FD in my as well as her name.