If a husband deposit cash in wife's acc , then the interest earned would be taxable or not in hands of wife?
Is there any exempltion available to wife?
2 Replies
sabyasachi mukherjee
(27579 Points)
Replied 24 September 2020
If the total interest exceeds Rs.10000 in a year then it is taxable.
CA Kushwanth AVSR
(CA in Practice CMA by Qualification)
(1593 Points)
Replied 25 September 2020
As per the clubbing provisions of Income Tax Act, such interest will be taxable in the hands of the husband as such amount is related to husband.
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