Leo Lobo (NewInvestor) (29 Points)
07 July 2011I have STCG from share trading in my wife's account. All trading done through the funds I transferred to her. She also has interest income. Those would be clubbed in my income. How to show this in my IT return ?
I fall under 30% tax bracket. Under what heads is clubbing income to be shown ?
Sunshine
(Helping All)
(10575 Points)
Replied 07 July 2011
The clubbed income will be shown under the same head as your wife earned it...
The STCG will now be shown under your STCG and interest income under IOS in your return.....
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 07 July 2011
| Originally posted by : Sunshine... | ||
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The clubbed income will be shown under the same head as your wife earned it... The STCG will now be shown under your STCG and interest income under IOS in your return..... |
 |
AGREED
C.A SHASHANK GOYAL
(Chartered Accountant)
(362 Points)
Replied 08 July 2011
|
The clubbed income will be shown under the same head as your wife earned it... The STCG will now be shown under your STCG and interest income under IOS in your return..... |
AGREED.
Mukesh Kumar Singh
(CA-FINAL)
(4094 Points)
Replied 08 July 2011
| Originally posted by : Sunshine... | ||
|
|
The clubbed income will be shown under the same head as your wife earned it... The STCG will now be shown under your STCG and interest income under IOS in your return..... |
|
Agreed
Pranav Bembi
(Practice)
(56 Points)
Replied 08 July 2011
| Originally posted by : Sunshine... | ||
|
|
The clubbed income will be shown under the same head as your wife earned it... The STCG will now be shown under your STCG and interest income under IOS in your return..... |
|
AGREED
Rashu
(CA)
(25 Points)
Replied 07 December 2011
The clubbed income will be shown under the same head as your wife earned it...
The STCG will now be shown under your STCG and interest income under IOS in your return.....
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