Income of spouse - clubbing provisions

Rajesh (Accountant) (39 Points)

13 December 2010  

Dear Members

I have a tax query. I have invested some funds in bank FD in my wife's name and some funds in my name. My query is, will my wife's interest income clubbed to my income? What if i file separate return for my wife and myself, will it still be clubbed? Note that the money invested (FD) is earned by husband and not wife.

I appreciate your expert opinion.

Regards

Rajesh