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clubbing of interest income
will the interest income from loan given to spouse be clubbed?
Replies (4)
As per the clubbing provisions, clubbing shall be done for the income from the a asset transferred to the spouse. where loan has been given to spouse, such situations are not covered for the purpose of clubbing.
Therefore, In the present case no clubbing shall apply.
Yes, I agree with prajjwal.
The only caution here is that spouse has to repay the loan and interest (Officially) and must have a documentary proof
The only caution here is that spouse has to repay the loan and interest (Officially) and must have a documentary proof
Indeed. @ Vijay Nice Add on.
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