14 September 2013
Suppose i want to gift my spouse Rs.50000 and she wants to invest in some bank which will yield interest. In this case clubbing provisions attract. But if i gift Rs.50000 to my son in the beginning of the year and after a month he gifts Rs.50000 to his mother(my spouse) and on that sum if she earns any interest will there still be clubbing of that income in my hands.
CAclubindia
