Clubbing of income provision

in my opinion section 64(vii) will applicable, let's wait for experts opinion

clubbing provisions not applicable in your case. Section 64(vii) applicable when such transfer for the immediate or deferred benefit of his/her spouse (wife/husband).

interest money to brother's wife to be clubbed of course

and same brother gifted mony to assassee wife

ofcourse relatives to be exempt as ios

But this is tax planning ?

Shubham this isn't tax planning
read ITA then say this

No clubbing would be done here. Section 64(1)(vi)/(vii) is not applicable as that is for the benefits of Spouse Only and not for Brother's wife.

clubbing hogi bhai yeh interest income ki upaj hai

Mr. Shubham First of all if you keep on adding one thing after another, then every time the answer may be different. For your original question- No Clubbing would be done for interest income. After your add on- It would become the case of cross transfer. Then clubbing provisions would become applicable. As far as your tax planning query is concerned, No one do the tax planning by risking the money itself. And second thing here by gifting money to your relative you don't get any deduction etc. For Mr. Nikhil- Would you please enlighten me under which section Such Interest Income would be clubbed (as you said).?

Originally posted by : CA Sunil Kumar
	clubbing provisions not applicable in your case. Section 64(vii) applicable when such transfer for the immediate or deferred benefit of his/her spouse (wife/husband).

 

will be clubbed yaar 😚

Originally posted by : nikhil sharma
	Shubham this isn't tax planning read ITA then say this

 

I agree to Mr. Nikhil Sharma's view.... Nitesh bhai.. PLS research on this issue and come out with a final solution.. My view is that if I transfer any property to my brother's wife in order to minimize my total income (rental income), then why clubbing provisions shouldn't be applied.. If clubbing provisions shouldn't apply then everyone will start practicing this by transferring all immovable properties and fds in the name of their relatives to avoid taxation.