If a wife reinvests the interest income (x) earned from the gift money received from her husband (y),what will be the income tax treatment of income (z) from this reinvested money (x)? Will it be taxable in hands of wife or the husband?
Ravinder Saini (VP) (22 Points)
10 October 2019If a wife reinvests the interest income (x) earned from the gift money received from her husband (y),what will be the income tax treatment of income (z) from this reinvested money (x)? Will it be taxable in hands of wife or the husband?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(174190 Points)
Replied 11 October 2019
Income from the reinvestment will be taxable in the hands of wife; no clubbing provision for that.
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