Clubbing Of Income
Querist : Anonymous
In the first year, interest earned on this fixed deposit is taxable in my file.
What about the interest earned on principle amount of Rs. 1,00,000/- in 2nd year? i.e. Other than Interest on interest earned on FD during 1st year.
How the income is taxed in consecutive years, generated on the gift received.?
Querist : Anonymous
Do I understand that if she put this money in FD for 10 days and after 10 days re-invest in FD
Now interest earned on re-investment will not be clubbed.
Querist : Anonymous
it's still not very clear to me. Can you explain this with an example? or can we chat? on this subject.
Interest earned Rs. 10000/- each year for three years.
That interest income will be clubbed in your hands for all the three years.
Now ur wife invests Rs. 30,000/- and earns income of say Rs. 15,000/-. That income will not be clubbed and taxed in the hands of ur wife.
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