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

343 views 3 replies

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.

Replies (3)
Post values to enable to judge correct position.

If you are transferring the amount from your bank account to your wife's bank account...

1. Clubbing of income will apply over interest of FD made by your wife.

2. Doubtful, as the broking house will not directly transfer it in your wife's account, when transaction has taken place with your trading account.

What kind of values?

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 24 June 2026
ARTICLE ASSISTANT

BHUPINDER SHAH AND COMPANY

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
2 posts Article assistant and Articleship completed students

Chirag N Shah & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 07 July 2026
Articleship

Jawahar and Associates Chartered Accountants

Hyderabad

CA Inter

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
06 July 2026
C.A./CA Inter OR pursuing C.A./GST/Accounts/Audit/IT - Head

Arvindkumar Maniar & Co.

Rajkot

CA

View Details
Company
20 June 2026
Chartered Accountant

ANV & Company

New Delhi

CA

View Details
Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
19 June 2026
Accounts Executive

Getfive Advisors Pvt. Ltd.

Ahmedabad

CA Inter

View Details