02 March 2012
If husband earned a Salary of Rs 50000 n this 50000 rs given to her spouse for household expense, out of this spouse invest rs 25000 n earned interest of Rs 5000 on rs 25000. So, whether the interest income will be clubbed in the income of husband or not ? As per which provision of Income tax Act 1961.
02 March 2012
If the amount is given as pin money to spouse for household exp. and income earned by saving & investing such money. Such income will not be clubbed in hands of husband.
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