Settlement to wife and Clubbing of Income
This query is : Open
10 December 2009
I intend to settle a sum of money in the name of my wife as a settlement. She then proceeds to invest this. Will her investment income be clubbed in my income? As this is a settlement, I will not have any further rights on the money and therefore I feel this should not attract the clubbing provisions of the Income Tax Act.
She has no other income source.
She has no other income source.
10 December 2009
If you are asking for ACADEMIC interest, clubbing provisions will not invoked, if settlement is in pursuance of divorce legally recognised
10 December 2009
Thank you for your reply.
This is not in pursuance of divorce but as a security for the wife.
This is not in pursuance of divorce but as a security for the wife.
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