Dear Professionals,
Please cite your valuable opinions on the issue :-
An assesse gives a gift of Rs. 100000/- to his wife, wife deposit that money in FD and earns interest. My question is should this interest be clubbed u/s. 64(1) in the hands of husband.
Thanks in advance
yes, it shall be clubbed......So, it is advisable to give interest free loan to wife rather than a gift.
Arpan Bohra & Co
Hyderabad
CA Inter
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S.B.G. & CO. CHARTERED ACCOUNTANTS
New Delhi
CA Inter
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CCI
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