Investment in post office mis
This query is : Resolved
17 April 2017
Dear Sir, An Assesse has invested certain sum of money from his own income in post office mis in the name of his wife but the interest from post office mis is deposited in his bank account not his wife. So please tell whether the interest income will be taxable in the hands of husband or his wife. thanks, Abhishek.
17 April 2017
Since he invested his own income in PO MIS in the name of wife, income from POMIS will be clubbed in the hands of husband.
18 April 2017
As per Section 64 it will be clubbed and taxed in his own hands.
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