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Clubbing of income
Dear Sir,
Situation - 1
If husband and wife both employed in the different pvt ltd company and both earn taxable income then if they want to clubbed their income then is it possible for clubbing as per law.
Situation - 2
If husband has taxable income from salary head and his wife earn bank interest which is not taxable. In this situation can the assessee clubbed his wife's income into his income and file the return if they want.
Please clarify this anyone.
Replies (3)
The bank interest in wifes case can be taxed in hands of husband if the principal money is provided by him. Two seperate salaries cannot be clubbed into one under any know provision.
Agree with Taxtechie
In case where wife's FD interest is below taxable limit and it is clubbed with husband's' income what is the provision for TDS deducted in wife's bank intt to reflect in ITR1 or any other form, as the PAN no. is different 26AS does not reflect, how do we deal with it, kindly clarify
GR Babu
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