If I invest in fd in my wife name then the interest will be clubbed in my income but what will happen if I invest in ppf account in my wife name and can I invest 1.5Lk in 80c in my name and my wife name also. What will be the tax implications.
3 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(183276 Points)
Replied 14 December 2022
Yes, investment in PPF account would not be clubbed as the interest earned is exempt u/s. 10 of IT act.
sabyasachi mukherjee
(27658 Points)
Replied 14 December 2022
Whose income is higher?
Not necessarily. Clubbing of income Sec 64 provisions are applicable.
Not necessarily. Clubbing of income Sec 64 provisions are applicable.
Samir Choudhary
(22 Points)
Replied 16 December 2022
My wife is a house wife and I want to know regarding specific situation mentioned
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