Income on gift to spouse by book entry

Arun Kumar Aggarwal (Service) (65 Points)

07 January 2008  

Dear All,

Mr. X is having MIS and Kisan vikas patra in his name. To divert  Interest income, he Gifted  these MIS & KVP to his wife by book entry without getting the actual endorsement through the Post Office. Can  he diverts his income like this.

CA. A. K. Aggarwal