POSTED BY October 28, 2013 12:47 pm ONE COMMENTON
My spouse is not working and I have a child. I want to invest 1 lakh each in the name of my wife and child yearly.
The following are my queries :
1.Since my spouse and child are not earning salaries , I am gifting them money .Is this taxable under their or my names ?
2.Is the interest generated from the PPF is taxable under my head ?
Now the question is the interest generated from the PPF is taxable under my head ?