Hi,
I've some amount parked in Yes Bank saving bank account which I'm thinking to invest but it may take some time. I'm receiving interest on that and as it's 7% the amount is big. I want to save the tax on this amount, so would like to park this money to my non-working wife account so that interest received is not taxable.
Can you please confirm if I transfer the amount to my spouse's account, does it has any sort of tax liability to her or me.
Regards
Manish
CAclubindia
