my client has two children.
he mad investment(fixed deposits) in name of both children.
now , he had given her wife pan number while investing money in FD.
his income is higher than her wife income.
so in this case children's FD interest income who gonna club ? father or mother?
Replies (2)
Guest
It will be clubbed in the father's income, and he'll get exemption of 3,000 from clubbed income.