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TAX CLUBBING OF INCOME
Husband has to pay income tax on wife’s earnings from FD, gold, shares under clubbing of income in these casesITR filing: Transferring investments to your spouse to save taxes is a common misconception. The Income Tax Department scrutinises fund sou...27 Jun, 2026, 08.09 AM IST- Bengal budget 2026: Rs 3,000 monthly dole for unemployed youth, Kalyani airport and new sports university announcedWest Bengal's new budget introduces 'Bhorsha Kormosuchi,' offering monthly allowances to unemployed youth. Uneducated individuals aged 21-4...23 Jun, 2026, 02.04 PM IST
- Husband trades through wife’s demat account, incurs Rs 1.95 crore loss; tax dept sends notice over clubbing of income, ITAT Lucknow grants him reliefA husband's attempt to offset substantial stock market losses against his income was initially rejected by tax authorities. Despite trading...22 Jun, 2026, 03.43 PM IST
- New tax regime: 7 ways for salaried employees to reduce their tax liability while filing ITR for FY 2025-26Salaried individuals can still reduce their tax liability under the new tax regime for FY 2025-26. Key deductions include employer contribu...17 Jun, 2026, 12.23 PM IST
- Gas at $4: Americans cut back on discretionary spends as fuel bills mountAmericans are adjusting their spending as fuel prices climb. Shoppers are altering routines, visiting discount stores for gas, and cutting ...07 Jun, 2026, 09.56 AM IST
- Banks are cutting credit card perks quietly; Learn how to get more value from your walletMany banks have recently reduced credit card rewards, cashback limits, and perks, prompting cardholders to reassess their spending strategi...01 Jun, 2026, 06.30 AM IST
- Luxury schools, big EMIs, premium vacations: CA warns why not low income but expensive expectations is a financial riskUrban Indian professionals face a new financial risk. High salaries no longer guarantee peace of mind. Rising lifestyle expectations trap m...25 May, 2026, 09.31 AM IST
- Your monthly spend also decides how soon you can retire: Expense tracking apps, AI tools are changing how Indians investExpense-tracking apps, spreadsheets, Artificial Intelligence (AI) -generated analysis, and budgeting dashboards are not merely bookkeeping ...18 May, 2026, 11.39 AM IST
- Who can file ITR-1 this year? Common mistakes to avoid while filing ITR-1 for AY 2026-27 on or before July 31, 2026Individuals eligible for ITR-1 filing for AY 2026-27 must file by July 31, 2026. This form is for resident individuals with income up to ₹5...15 May, 2026, 11.55 AM IST
- Used meal card benefits? Form 12BA deadline alert: Why salaried employees must collect it by April 30 for filing ITR for AY 2026-27Salaried employees need to collect Form 123 from employers by April 30, 2026. This form details perquisites like meal card benefits. It is ...30 Apr, 2026, 04.36 PM IST
- If I gift my Rs 2 lakh to my wife who plans to invest in FD, who will pay income tax on interest earned?ET Wealth Reader's Query: I am the only earning member of my family. My company has given me a bonus of Rs 2 lakh this year (after deductin...28 Apr, 2026, 02.17 PM IST
- Tax on destination wedding outside India: Will income tax apply on gifts in form of cash, property, gold jewellery? Know the rulesWhether it is cash, gold, car, or even a property, if gifted to the bride or the groom on their wedding, no tax would be levied on the gift...24 Apr, 2026, 03.38 PM IST
- Why can only club members complain?In a diverse society, it's essential to critically evaluate how religious customs shape public life. Non-believers play a vital role in thi...22 Apr, 2026, 11.04 PM IST
- If I gift money to my spouse, who pays tax on the interest, dividends and capital gains?ET Wealth Reader's Query: If one spouse gifts money to the other and the recipient invests it in fixed deposits or similar instruments, the...11 Mar, 2026, 01.02 PM IST
- What is clubbing provision in Income Tax Act? When is it applicable?If you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 6...28 Jul, 2025, 06.30 AM IST
- Income from asset transferred to even your daughter-in-law will be clubbed to your income and will be taxable in your hand in this case, says income tax deptIncome tax clubbing: The tax department has released a new brochure saying Section 64(1)(vi), 64(1)(viii) says Income from Assets transferr...06 Mar, 2025, 02.42 PM IST
- Wife transferred her shares without any money to my demat account. Will I have to pay tax when I sell?The transfer of shares by your wife to you, for no consideration, will not attract any capital gains in her hands.07 Sep, 2021, 03.05 PM IST
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