If a husband deposit cash in wife's acc , then the interest earned would be taxable or not in hands of wife?
Is there any exempltion available to wife?
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Income from other Source
Replies (2)
If the total interest exceeds Rs.10000 in a year then it is taxable.
As per the clubbing provisions of Income Tax Act, such interest will be taxable in the hands of the husband as such amount is related to husband.
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