I have been querying this forum to avoid clubbing of FD interest income ( One’s salary income is invested in her wife’s name ) with valid options but could not get any inputs. However,based on discussion with our corporate auditor, below are possible options:
Split the value into two major parts.
A. Say 10 lacs, bought in cash mode, from her dad/mom for those X yrs of married life, for household expenses.
– The expenses amount was compensated by hubby, by transferring amount to her bank account and she booked FD etc
B. Sold ( Not loan ) her excess X sovereign of jewels to hubby for 10 lacs, for investment purpose
Transactions:
– Say 10 lacs transferred from hubby account to her own account on various dates/given date and FD booked etc
Lets discuss!
CAclubindia
