Son - Gift to mother & brother Rs.1 lac each in through online transfer. Invests in Fixed Deposits by both of us. Interest earned on that fixed deposits. On which person that Interest will be clubbed & taxable ??????
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Clubbing of interest earned
Replies (4)
In the Income of Transferor !
However ur Question has less clearity .Request you to please elborate ur Question.
Interest earned by mother from fixed deposits. Is that amount taxable to mother or son under clubbing provisions????
Taxability under which section to transferor ????
Hello,
Here clubbing provision not apply...income will be taxable in mother's hand & brother's hand.
Assuming brother is not minor.
I agree with u vishal............
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