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CLUBBING OF INCOME

Rahul Bansal (Finalist) (35929 Points)

23 June 2010

Friends,

I am providing u a direct link where u can see "CLUBBING OF INCOME" which is easy for U to remember from exam point of view.........

COPY AND PASTE THE LINK IN URL:

https://www.taxpointindia.com/tlclubbing.html

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3 Replies

Rahul Bansal (Finalist) (35929 Points)
Replied 23 June 2010

hard drive CLICK:

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Kalpesh Chauhan, (Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com)) (8311 Points)
Replied 23 June 2010

Download any material you want.

sani (article) (21 Points)
Replied 23 July 2011

Clubbing of income

Section 64(1)(vii) - when an indivisual transfers his asset to third for the benifit of spouse, the income from the asset will be clubbed in the income of the indivisual.

Section 64(1)(viii)- when an indivisual transfers his asset to third for the benifit of son's wife, the income from the asset will be clubbed in the income of the indivisual.

we all know these sections, but when an indivisual transfers his asset to the third party for the benifit of husband and her father-in-law, then income arised in the hand of husband will be clubbed in the hand of wife but income arised in hand of father in-law wonn't be clubbed in the hand of daughter-in-law. it will be taxable in the hand of father-in-law.