20 September 2014
My mother wants to give her bank fixed deposits amounts invested to her daughter-in-law [ that's my wife ] after my mother's death, through a WILL & no body has any objection towards that.
If my wife receives such amount in future & she invests such money in fixed deposits in her name, will that income be clubbed under my income head or will it be my wife's seperate income? She is a housewife.
Please reply at earliest. Thank you very much. Regards. C.Kuumar