section 64 (1) (iv) is applicable for spouse. no clubbing in case of income earned by Dad
| Originally posted by : RAMAKRISHNAN R | ||
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Sorry it's not 64(iv) but it's 64(vii) & (vii) |  |
DIdn't get you
S.64(1)-
(vii) to any person or association of persons from assets transferred directly or indirectly otherwise than for adequate consideration to the person or association of persons by such individual, to the extent to which the income from such assets is for the immediate or deferred benefit of his or her spouse ; and
(viii) to any person or association of persons from assets transferred directly or indirectly on or after the 1st day of June, 1973, otherwise than for adequate consideration, to the person or association of persons by such individual, to the extent to which the income from such assets is for the immediate or deferred benefit of his son's wife.
CAclubindia
