NRI Income Investments In India

This discussion addresses an NRI's query about investing 30 Lakhs in his wife's name in Indian Post Office Term Deposits, adding to existing investments. The core concern is whether the investment itself or just the interest earned needs to be declared in her Income Tax Return (ITR), especially since her income is NIL. Advice clarifies that only the interest income is taxable and needs to be shown in the ITR. The applicability of clubbing provisions under Section 64 is also briefly touched upon, with a suggestion that it might not apply if the funds are structured as a loan.