the amount of 14 lacs will be exempted in the hands of your father but the income derived out of 14 lacs will be clubbed in your hands under section 64(iv).
...............................................
but if dad only make investment in only his name and nominee me than?
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Clubbing provision not applicable when gift given to parents ...
and if amount given as gift of dad invest in NSC with 1st name dad who is not earning and in second name me and I am earning and my income more then dad then it will be clubbed or separate income for dad from the amount invested and my from my salary???
Yes, correct.
my question clubbed parent income in the case or seperately shown?
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