Income on pin money given to wife

Dear Sir,

If i give Rs 5000 to 10,000 per month to my wife and if she deposits it in Savings account or Fixed deposit to earn interest, does the income is clubed to mine ?

 

I had made following consideration.

1) If asked by Income Tax department, i can give reasons that this perticular income is earned by wife by way of taking tutions.

2) Since Rs 10,000 per month will make 1.2 Lakhs a year , still not cross the limit for paying Income tax.

 

Thanks

 

 

 

Replies (3)
Pin money given to wife is not clubbed with husbands income.

Pin money given to wife is not clubbed with husbands income.



(An allowance given to the wife by her husband for her dress and usual household expenses) - R.B.N.J naidu V CIT [1956] 29 ITR 194 (Nag.).

In continuation of above question, Is there any limit for Pin Money given to wife ?

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