I want to gift Rupees thirty lacs to my wife out of my retirement funds which she would invest in SCSS scheme of Post office/Nationalised bank.
Whether interest earned by my wife on SCSS is taxable in her hands or in my hands. She is filling zero income return till now as she has no other income.
Interest earned by your wife on SCSS investment from that gift wil be taxable in your hands due to clubbing provisions.
SSGS and Associates
Chennai
CA Inter
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Sri Aurobindo Gnostic Centre of Education
New Delhi
CA
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CAclubindia
