Clubbing of income
This query is : Resolved
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.
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.
14 September 2013
Yes clubbing will be there in case gift to wife. and in the case major son is giving gift then it will not be clubbed
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