Question

Explain the circumstances under which the income of any other person can be clubbed with the income of assessee under income tax act, notes1961

Answer 1

Clubbing of Income Under Income Tax Act. 'Its all in the family'. It may seem ordinary to invest money for a non earning spouse by way of fixed deposits, or other income earning assets or to set up bank accounts, mutual funds or other investments for children to provide for their needs in future.