POSTED BY February 22, 2014 10:11 am COMMENTS (2)
ONHi all,
I am a salaried person and my wife is a homemaker without any sources of income except bank interest. I have a query on clubbing income clause:
If my wife invests the amount X received by her as per Hindu succession act and gets interest Y, then, is this amount Y is clubbed in my hand for tax purposes?
Thanks in advance and regards,
GB
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Dear Jibi, as the amount is received by your wife from her family under Hindu succession act, this is her capital now and the income generated from such amount ‘ll be her income only. So question of clubbing in your name does not arise.
Thanks
Ashal
Thank u Ashalanshu
Regards,
GB