Will interest earned on Fixed deposit be clubbed in my income for evaluation of income tax?

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I regularly transfer a portion of my salary to my wife for managing households. She invest a portion of this in bank fixed deposit. Will interest earned on her deposit be clubbed in my income for evaluation of income tax.

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Posted by shena
Asked on 2017-05-08 6:02 pm
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No, that will be counted among her income. The FD is on her name and therefore, it would be added to her income despite the source of money being different. In case both of you have a join account in which this FD has been opened, and the FD bears you name then you can count that income in yours. Consult a CA for further clarity.

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Posted by Gunjan Rastogi (Questions: 2, Answers: 126)
Answered on 2017-05-22 6:17 pm
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