Clubbing of Income and SFT-005 (of 26AS)

AR (RETIRED) (39 Points)

27 November 2022  

Dear Experts,

I intend to transfer a sum of Rs. 15 lacs, to my wife’s bank account, to enable her to open fixed deposits. This amount is realized from the sales of company shares held on my name. We both are retired Senior Citizen Tax Payers.

  1. Will this be considered as clubbing of income?
  2. As this transaction amount will be included in my wife’s 26AS, under SFT-005 of Part E, does she have to do anything about this?

Thanks in advance for your valuable opinion and time.