January 13, 2014 12:22 pm
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?
Thanks a lot
Dear DKKatariya, as the investment is done in PPF, the question of taxation does not arise.
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.
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.
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