Income from other Source

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60 Points Posted on 24 September 2020
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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On 24 September 2020 at 19:39 Report
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Quick Summary
If your husband deposits cash into your bank account, the interest earned may be taxable. Under the Income Tax Act's clubbing provisions, this interest is generally considered taxable in the hands of the husband, especially if it exceeds Rs. 10,000 annually. It's important to understand these rules to ensure correct tax reporting.

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Profession
28261 Points Posted on 24 September 2020
If the total interest exceeds Rs.10000 in a year then it is taxable.
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On 24 September 2020 at 20:37
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CA in Practice CMA by Qualification
1593 Points Posted on 25 September 2020

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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On 25 September 2020 at 01:14

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