Clubbing of income
I have transferred 100000 in my mother's bank account by gift. My mother made FD from that A/c . Is interest earned on it is clubbed with me or not?
Replies (6)
In my opinion, clubbing araises only in the case of spouse, son's wife, minor child and huf... Any income generated from transfer of asset to MOTHER wil not be clubbed..
Interest will be income of mother after gifting
thank u uttam and mahendra
Income wouldn't be clubbed in your income
yes every one is right provisions of clubbing of income will not falls in this case. interest income of mother will not club in his son's income as the same is subsiquent outcome...
thanks
thank you all of you
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