If a wife has taken a personal loan n amt received from it is deposited it as a FD, then the interest received from FD would be clubbed in the income of the husband or it would be the income of the wife, also the installment of loan is paid by the wife from the income saved by her from the household expenses...
Menu
Clubbing of Income
Replies (3)
It is clearly difeined in act that any income arises form the "Stridhan" will deemed to be the same lady's income and not husband ut I will check further in depth and tell u right soon.
thanks a lot....
could u let me know the exact Section or any Case Law regarding the same.....
Clubbing proviso apply if their has been transfer of asset or any income . In this case the loan is taken by wife so income arising out of FD's will be taxable in hands of wife only. Its not concern that she is paying installment from her savings.
Recent Threads
- ITC Inter head difference between GSTR2A and 3B
- Form 10IEA for re-entering new regime
- ITR Utility is awful
- Sale value - sale deed or AIS
- Deductions under Schedule EI
- Income under section 194R
- Schedule FA A3 csv Example
- RCM ITC reported in Table 4(4) instead of 4(3) in
- TDS on sale of property where consideration is Rs.
- Treatment of intraday profit and fno loss in,ITR
Related Threads
- Defective Notice for 44AE Income
- List of shareholders in case of unlisted companies itr 6 of income tax
- Urgent - contract income differ in gst & form 26as
- Define Financial institution as per income tax act
- Set off losses carry forward against income of current year
- "ror" under income tax but "proi" under fema
- Minor filling taxes on income earner on his own skills
CAclubindia
