If the wife of an the assessee is working and getting salary(which is not attributable to her skill) it is to be clubbed in the husbands hands only if he has substantial interest(20% in shares of the company) along with relatives?
If he gifts debentures to wife and she gets interest on debentures to be clubbed with husband? here the substantial interest criteria does not apply?
As per my opinion, In first case substantial interest (of the assessee) and not having profesional or technical knowledge (spouse of the assessee) is one of the condition u/s 64(1) (ii). Salary will be clubbed only if above conditions are satisfied.
In 2nd case substantial intrest is not covered under sec 64(1) (iv), income generated from transferred asset is clubbed. No question of substantial intrest.
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