Transfer to my wife
This query is : Resolved
05 March 2016
I am an employee my wife is having no income, can i transfer money like FD on her name to avoide tax?
05 March 2016
Transfer of amount is not treated as income under the head 'other sources' (i.e. u/s 56(2)(vii)) as this is a transaction between husband and wife, i.e. relatives.
However, income on FD is to be included in your income u/s 64.
However, income on FD is to be included in your income u/s 64.
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