Clubbing Provision section 64(2) says that when a member of HUF transfers any of his property to HUF for inadequate Consideration, then the income arising from such property would be clubbed in the hands of the member who transferred the property and not in the hands of the HUF.
Karta Gift 5 lakh Rupees and Huf makes FD of that Gift then Interest arsing from that FD will be Clubbed in the Hands of KARTA
Please give reference of Case Laws also.
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