Does Gifting money to wife comes under clubbing of income ?

POSTED BY dkkatariya ON January 13, 2014 12:22 pm COMMENTS (5)

Can I gift money to wife & amount invest in ppf with wife name, interest received in ppf is wife income? or it comes under clubbing of income?

5 replies on this article “Does Gifting money to wife comes under clubbing of income ?”

  1. dkkatariya says:

    Dear Ashul

    Thanks a lot

    Best Regards
    D.K.Katariya

  2. ashalanshu says:

    Dear DKKatariya, as the investment is done in PPF, the question of taxation does not arise.

    Thanks

    Ashal

  3. dkkatariya says:

    Thanks
    Dear Ashul

    Please clarify for example if I deposit 1 lakh in my ppf account & 1 lakh to my wife ppf account, from my saving account is any tax liability occur in my account.

    Best Regards
    DKKatariya

  4. ashalanshu says:

    Dear DKKatariya, if the gifted amount is invested in PPF, the income from PPF ‘ll be clubbed with you but remain tax free for you being taxfree.

    Thanks

    Ashal

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