Please Help: Income tax
Posted Date : 29-Apr-2012 , 11:57:53 am | Posted By: Vikash Kumar Jha
Category :
Income Tax | Answers :
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Comments :
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X is a NRI. If he give 5lakhs as a gift to his wife from His NRE account & in turn his wife invest this amount in small savings as MIS/KVP. I want to know who will be liable to pay the tax from the interest of these savings. |
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Answers:
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 Answer by: CA Satuti Mahajan |
| The income shall be clubbed in the income of Mr. X.
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| Answer by: Rishabh Upadhyay |
| Income is to be clubbed in the hands of Mr. X
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| Answer by: Rambabu Senkarasetti |
| income shall be clubbed in the hands of Mr.X
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| Comments |
| Posted By : Riddhi |
30-Apr-2012, 12:04:37 |
| Interest income is to be clubbed in the hands of Mr.X but when the said interest income is invested again, then income arrising from that interest income which is being invested will not be be clubbed and will be taxable in the hands of wife. |
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