Clubing of Income - [Computation of Gross Total Income]

Income of an Individual to Include Income of Spouse (Husband/Wife of the Taxpayer) - Clubbing of Income [Section 64]

1. Remuneration of Spouse from a concern in which the other Spouse has Substantial Interest [Section 64(1)(ii)]:

2. When an Individual is Assessable in respect of Income from Assets Transferred to Spouse [Section 64(1)(iv)]:

3. An Individual is Assessable in respect of Income from Assets Transferred to Son's Wife [Section 64(1)(vi)]:

4. An Individual Is Assessable In Respect Of Income From Assets Transferred To A Person For The Benefit Of Spouse [Section 64(1)(vii)]

5. An Individual Is Assessable In Respect of Income from Assets Transferred to a Person tor the Benefit of Son's Wife [Section 64(1)(viii)]

'Revocable Transfer of Assets' for Clubbing of Income (Section 61)

1. Examples of Revocable Transfer with different situations :

2. When a transfer is Revocable [Section 63]:

3. Section 61 not applicable, if the transfer is Irrevocable for a specified period [Section 62]:

Clubbing of Remuneration of Spouse from a Concern in which the other Spouse has Substantial Interest [Section 64(1)(ii)]:

1. No Clubbing if Remuneration is due to Technical or Professional Qualifications:

2. Where both Husband and Wife have Substantial Interest and both are getting Remuneration from the concern:

3. 'Substantial Interest' by an Individual - Meaning

4. When both Husband and Wife have Substantial Interest :

Clubbing of Income in respect of Income from Assets Transferred to Spouse [Section 64(1)(iv)]:

Clubbing of Income in respect of Income from Assets Transferred to Son's Wife [Section 64(1)(vi)]:

An Individual Is Assessable In Respect Of Income From Assets Transferred To A Person For The Benefit Of Spouse [Section 64(1)(vii)]

An Individual Is Assessable In Respect of Income from Assets Transferred to a Person tor the Benefit of Son's Wife [Section 64(1)(viii)]

Clubbing of Income of a Minor Child [Section 64(1A)]

1. Clubbing of Income of a Minor Child in the hands of Father or Mother -

2. Certain incomes of Minor Child Taxable in the hands of Minor Child only:

3. When Clubbing of Income of Minor Child is not Attracted -

4. Exemption under Section 10(32) in case of Clubbing of Income of a Minor Child -

Income from Self-acquired Property Converted to Joint Family Property and subsequent Partition [Section-64(2)]

1. Transactions are covered by Section 64(2) by an Individual , who is a member of HUF —

2. Clubbing of Income in the case of subsequent Partition of HUF :

3. Income is to be Clubbed but Income On Income is Not to be Clubbed:

4. 'Income includes Loss' for the purpose of Section 64.