Mr. X received Rs. 20 lakh in inheritance from his mother.Out of this receipt, he invested rs. 10 lakh in fdr in name of his wife.
The interest received on fdr of Mr. X's wife is clubbed with income of Mr. X?
are clubbing provisions applicable here?
Thanks
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Taxation for amount received in inheritance
Replies (1)
Yes, it will be clubbed in his income.
Clubbing of income is applied here, as the amount given to spouse.
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