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Transfer to my wife

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(Querist)
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?
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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
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.

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