Dear Sir/Madam,
Can any one please let me know that whether a loan given by wife to husband and on which husband pays an interest to wife and claim it as expense similarly wife also claim the same as an income does this situation attracts any provision of clubbing? If Yes than in the hands of Husband or wife and if No then why so?
I think this may help you
https://incometaxmanagement.com/Pages/KnowledgeBASE/Tips-On-Tax-Planning/10-The-Husband-can-Give-a-Loan-to-his-wife-Not-a-Gift.HTML
https://incometaxmanagement.com/Pages/KnowledgeBASE/Tips-On-Tax-Planning/10-The-Husband-can-Give-a-Loan-to-his-wife-Not-a-Gift.HTML
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