Hi all, I would like to know regarding the clubbing of income. I would like to know if my understanding about clubbing of income is correct or not? I open a recurring deposit for 12 months then the interest earned on the recurring deposit is clubbed to my income. However, After closing the recurring deposit if i my wife does a fixed deposit of the same lump sum amount earned through the recurring deposit then the interest earned on that will be her own income. My wife being a housewife . Please clarify on this.. thank u