17 December 2013
If husband gives loan of Rs. 500000/- to wife and then invests in fixed deposit .Interest on FD is to be clubbed in hands of Husband. Plz clarify ???
20 December 2013
but loan itself a adequate consideration . As per Sec 64, If amount is given as adequate consideration to wife then no clubbing . Plz clarify ? In many balance sheet in office , I have seen loan from wife is shown. In thses cases no clubbing.