Clubbing provision for IT on amount received under Hindu succession act ?

POSTED BY jibi ON February 22, 2014 10:11 am COMMENTS (2)

Hi 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

2 replies on this article “Clubbing provision for IT on amount received under Hindu succession act ?”

  1. ashalanshu says:

    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

    1. jibi says:

      Thank u Ashalanshu
      Regards,
      GB

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download Our FREE Ebook!

Available only for first 100 people today

Download Our FREE Ebook!

Available only for first 100 people today