If I invest in fd in my wife name then the interest will be clubbed in my income but what will happen if I invest in ppf account in my wife name and can I invest 1.5Lk in 80c in my name and my wife name also. What will be the tax implications.
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Tax implications on investing in house wife name
Replies (3)
Yes, investment in PPF account would not be clubbed as the interest earned is exempt u/s. 10 of IT act.
Whose income is higher?
Not necessarily. Clubbing of income Sec 64 provisions are applicable.
Not necessarily. Clubbing of income Sec 64 provisions are applicable.
My wife is a house wife and I want to know regarding specific situation mentioned
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