Clubbing Provisions in Income Tax Law | CA. ANOOP BHATIA
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- čas přidán 11. 09. 2024
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. ऐसी परिस्थितियां जिनमें अन्य व्यक्ति की आय आपकी आय में शामिल की जाती है उसे क्लॅबिंग ऑफ़ इनकम के नाम से जाना जाता है. यह वीडियो आपको क्लॅबिंग की दशाओं के साथ साथ उससे सम्बंधित महत्वपूर्ण प्रश्नो का उत्तर जानने में मददगार होगी.
Clubbing provisions are dealt with under section 64 of the Income Tax Act 1961. This section specifies certain conditions in which the income of one person shall be clubbed in the hands of other person. Therefore, unless there exists one of the conditions / situations mentioned in section 64 of the Income Tax Act 1961 clubbing shall not take place.
This video is an attempt to discuss following questions:
A. What is clubbing of income.
B. What is the effect of clubbing.
C. Clubbing in terms of income of spouse, income of minor and other specified circumstances.
D. Dealing with queries pertaining to clubbing.
Considering the discussion held the assessee should ensure that transfer made by him is out of the ambit of clubbing to implement a correct tax planning.
Valuable comments of viewers are most welcome.
Other top / popular videos of this channel are: www.youtube.co.... www.youtube.co.... www.youtube.co.... www.youtube.co.... www.youtube.co.... www.youtube.co.... www.youtube.co....
What if I gifted 100000rs to my brother, he further invested such amount in FD's, will interest income is going to be clubbed?
क्लबिंग पर विस्तार से जानकारी देने के लिए आपको बहुत-बहुत धन्यवाद। अभिव्यक्ति की भाषा-शैली भी उत्तम है।
Dhanyavaad Sir.
Sir, thanks for elaborate explanation on clubbing. Pl shows the way how a retired person can reduce the tax burden by investing in others name, other than gifting to Son, Daughter & Parents.
Sir I have a question if I earn 30lakhs from CZcams and transfer 10lakh to my account remaining 20lakh to parents account and then invest in market here the clubbing is applicable
Sir another tricky question ❓
Husband constructed a house in vacant land owned by wife ? Only husband money is used for construction of the house .
Now who will be taxed on rental income ?
CCS conduct rule
I have govt employee
My wife is a teacher in private school which are not recognised school Get salary cash in hand
Also she teaches private tution at home
Also she do part time tailoring for others
From all these activities she earn approx 10-12k per month
Now she want to do share trading activities
Is this trading activities affect me under CCS conduct rule .
Is their trading activities comes under clubbing of income for me
What I do and how to maintain their income seperately so I can't suffer from their trading activities
Excellent presentation . Dhanyavad Anoopji . Seems this ruling wants to split family in to individuals . So how do we plan inheritance , family wealth in Hindu society ?
Thanks for kind appreciation. The basis intention of clubbing provisions is to prevent tax planning made by high tax slab individuals by using accounts / pan of less or nil tax slab individuals etc.
Respect sir I have Little bit problem as for example a father died by road accident ,after death his legal heir are is his wife ,his Major daighter,his one minor son.now insurance company paid death' claims benefit in the name of his wife ,major daughter and minor son with deduction of TDS and TDS amount available in respective pan how his mother obtained TDS credit refund for his minor son which was deducted by company and the monor son's TDS amount not available in mother's pan.plz reply
Excellent explanation Sir,Thanks
Wife ke income ko alag kaise dikhaya jaaye wo unorganised sector me kaam kar rahi hai tution padhati hai kapre silti hai 10-12k ke aas paas earn Karti hai aur share trading karna chahati hai aur mai govt employee hoon tax clubbing na ho
Thanks sir, explain for clubbing income
welcome.
My wife(house wife) opened scss account funded by me. Interest earned thereon will be clubbed by me. She does not file ITR . But , since opening of this scss, she will earn good amt of interest which will attract TDS. Accordingly, from this year (ay24-25), she is to file ITR for enabling me to get the credit of TDS My queries are
1 Where to mention in her ITR this funded amt for opening scss which is not taxable in her hand
2. Where to show in her ITR interest amount from her saving, interest of scss etc which is to be clubbed by me in my ITR . I am in 30% slab and in the past mentioned in my ITR her income in schedule spi for taxation. She doe snot have her own income.
Regards
Sir another tricky question
X give 10 lacs as a gift to x sister ,
x father gave gave 10 lacs gift to x spouse ., X spouse made fd of 10 lacs
Here not that x sister didn't transfer fund electronically or check or bank transfer to father .
Will this come under indirect transfer of fund to spouse ? Is fd income clubbed in x father or x himself ?
Sir govt employee hoon wife unorganised sector tution padhati hai kapre silti hai 10 k ke ass paas earn karti hai kaya wife khood ka share trading kar sakati hai tax clubbing ke dayre me ye aayega
SIR,
Trying to fill ITR-2 when the interest from FD created using husband's money in the name of wife is to be clubbed with husband's income. Filled schedule SPI. Now how do I account for the TDS on interest
that has been deposited
against wife's PAN.
Pl guide
Regards
Sir Pl. Share How to file share buyback share amount. Sender value or gain only.
Thanks sir for very knowledgeable video
1. Sir Aapne bataya ki residential property wife ko transfer karne par property ki income club nahi hogi phir bataya ki income club hogi. Please clear sir.
Sir I meant to say that for property gifted to wife section 64 will not apply but income from such property will be taxable in the hands of spouse providing the property only under section 27 of the Income Tax Act 1961.
@@CAAnoopBhatia thanks
Sir if I make FD in Name of my
matured daughter, than the income from that FD interest will be club to my income.
Very very nice video sir its very helpful guidelines clubbing
Thanks Aman bhai.
Please can you describe and give examples of adequate consideration. This was an excellent video
Adequate consideration depends upon facts and circumstances of the case. Thanks for kind appreciation.
Very nicely explained. Sir one case, I gifted some money (75% of total land cost) to my wife and she bought a land on her name at a cost of Rs 100000. Now if she construct a house on that land (construction cost Rs 50000) and sell that house at 230000 then how much profit will be clubbed in my hand (out of total profit of Rs 80000)?
Prima facie the capital gain in proportion to your contribution in total cost of house property (say 75% of land cost) should be clubbed in your hands.
GREAT JOB BHATIYAJI! THANK YOU!
Thanks and welcome Sir.
Very nice & valuable information.
Thanks.
I filed itr but my minors tds claim Kasey kre .26as me show nhi ho raha. Now what should I do to claim minors tds. Please help me and mail me.
Sir if share are transfered to wife against her gold on exhange and I pay tax for my purchase price -fmv of share transfer price and I pay tax after that if my sells shares then clubbing won't happen na pls explain
Sir excellent video hats off , trickey question
If son transfer 10 lac to father , father transfer that 10 lac to sons wife .
Will clubbing come in father hand or so. Hand as two conditions of section 60 apply
Two are within 60 section
1.transfer to sons wife
3.indirect transfer to wife ..
Which will apply ?
Thanks sir, very good explanation 😊
Thanks :)
@CAAnoopBhatia is clubbing applicable on brother and sister gifts ?
if i receive 5 lakh gift from my sister and now i do FD of that money
the interest will be treated as clubbed income in my sister's name ?
The parents were both NRI and during the NRi status father gifts his wife an amount from NRE saving account to her NRe saving account and later mother gifts some amount to an adult child and later they transfer the same funds to their father account who is now a resident. Is clubbing of income applicable if earned on the amount transferred.
Sir hope the matter is resolved as we have disucssed it over phone.
very informative video sir.. request u to make live itr filling of clubbing provision sir... plz
We will try
Sir really liked the way yiu expains.
Glad to hear that
Sir , one small doubt - i have gifted transferred 4 lacs to my father-in-law , then he gifted that money to his Major married daughter(my wife) .
Then want to know who will pay tax with the fd interest ?
Prima facie it's an indirect transfer to the spouse hence may attract clubbing of income in your hands.
सर नमस्कार
मेरे से एक पैन नम्बर को इंकॉमेटैक्स के पोर्टल में रजिस्टर करते समय सरनेम में मिस्टेक हो गया है । उसको कैसे सुधार सकते हैं ।
Pls रिप्लाई जरूर देवे सर जी
Hi
If wife receive gift from husband and she shows this gift in income from other sources and pays taxes on it as per her tax slab. Then income generated by investing this gift will be taxed in husband's had or wife's hand?
Aapke video dekhkr poora clubbing ka provision revise ho gya
Nice to know that.
Thanks a lot CA Saab
Always welcome Ashok ji.
Well explained sir 👍
Thanks and welcome
Ty sir nicely explained by uh ..
Welcome.
Sir, Please also enlightenment the clubbing wrt HUF
Nice explanation 👌🏻👌🏻
Thank you 🙂
Thanks for the comprehensive video Sir !!
I've 1 doubt. Say,
I've transferred INR 5 lacs to my non-working/non-earning wife via NEFT.
She then invested this money in the Equity stocks on NSE/BSE and Mutual funds as well.
Scenario 1:
She sold some of the stocks from which she has made some STCG/LTCG. ====> Will this income be clubbed in my (husband's) name & taxable at my name ?
Scenario 2:
She purchased-then-sold some of the stocks, then REINVESTED/Purchased some other stocks from original purchase amount + STCG/LTCG made and later AGAIN SOLD those REINVESTED/Purchased stocks. ====> Will this income be clubbed in my (husband's) name & taxable at my name ? OR it would be taxable in Wife's name?
Scenario 3:
What if I've transferred INR 5 lacs as a LOAN (mutually/verbally agreed with X% interest on repayment of 5 lacs) to my wife & she invested in stocks/MFs with any of the above scenario 1 and/or 2 ? ====> In case of LOAN given, will any income generated from stocks/MFs be taxable under my (husband's) name or it'd be taxable in the Wife's name? ===> If it's taxable under Wife's name, do my wife needs to file ITR?
In any of the scenario if the income is taxable under my name & I need to declare it as the Clubbed Income. ====> Question: Capital gains made from stocks/MFs would still be taxed according to STCG (15%) and/or LTCG (10%) rates OR any clubbed income is taxed as per the tax slab rate (10/20/30%) ?
Thanks in advance for your reply !!!
Prima facie its a case of clubbing. You may avoid clubbing only in a case when you lend money to your wife.
@@CAAnoopBhatia Thanks for the reply.
1 last doubt:
In case of Clubbed Income. ====> Capital gains made from stocks/MFs would still be taxed according to STCG (15%) and/or LTCG (10%) rates OR any clubbed income is taxed as per the tax slab rate (10/20/30%) ?
Very good lecture Sir
Thanks and welcome
Bahot khub sir
Thanks for kind appreciation :)
sir , in case of F&O income if money is transferred from spouse/father-in-law. Profit is earned. then income will be clubbed or it will remain professional business income
Prima facie clubbing should happen, however you may say that I avaied a loan from spuse or father in law which was returned with interest, to avoid clubbing.
Thank you for detailed explanation.. For Pinned money to Wife, is there any specific criteria or limit is available per month or year?
What if we invest in the name of senior citizen or non senior citizen parents in Equity or fixed income options??
Please help with your clarification..
Sir there is no criteria fixed up in Income Tax Law for pin money, it would take color from facts and circumstances of the case. Regarding you question on investment in the name of senior citizen etc. in equity or fixed income option I don't see any issue, that can be done with their own funds or the funds which you may gift to them. Even if gifted funds no clubbing will attract.
@@CAAnoopBhatia Thank you sir for your clarification.
Good explanation
Thanks Bhai Saab :)
Thank you very much sir.
I have a query about this. If a lady gifts an amount to her daughter-in-law with a proper gift deed, will the amount or the income from that amount be taxable and treated under clubbing provisions?
Income of daugher-in-law from gift received from her mother-in-law is prima-facie taxable in the hands of mother-in-law.
Sir bhut bhut thanks !!
My pleasure.
Very good video. Where to add the clubbed income in ITR2?
It should be added in income from other source generally.
Thanks for your nice and educative videos. There is one question in my mind. Whether to show pin money as income of my wife and where to show amount of pin money in the income tax return of my wife? Kindly help me to clear my understanding.
Sir pin money in my opinion is not taxable in the hands of your wife.
@@CAAnoopBhatiaThanks for prompt reply.
Sir please make a video over pension commutation
Ok I will try.
Thanks sir on highlighting on clubbing provisions. If I invest in 7.75% RBI BONDS IN THE NAME OF MY MINOR SON FOR 7 YEARS AND TAKES THE OPTION OF CUMMLATIVE INTEREST AFTER 7 YEARS. AT THE TIME OF MATURITY MY SON GETS MAJOR. WHAT WILL BE THE TREATMENT OF INTEREST. IT WILL BE MY INCOME OR MY SON
Assuming that you opt for cash system of accounting in offering income from other source (which includes interest) then you planning may succeed and whole interest should be taxed in the hands of your son on attaining majority.
Excellent,sir. But one question on whether accretions will also attract clubbing . I had given ten lakh to my wife. she got one lakh interest. she invested the interest in another FD. My question is whether one lakh reinvested is to be clubbed or not.
Income from accretions should not be clubbed.
Nice video sir. I have one query.
If I gift 5 lakh to my mother and she invest it into PPF or ELSS. Will maturity amount or interest will club to my income?? (I'm also taking 1.5 Lakh exemption in PPF on my name)
Thank you in advance 🙏
No clubbing in my opinion.
Clubbing of income in respect of brother or sister is included or not !
No clubbing to attract.
Anoop ji thank you for video my ques is why clubbing not attract when minor fall within sec 80 U ...what is the reason or logic behind this
Puneet ji perhaps it is to support the parent since in the absense of clubbing the income of parent would have been taxed at at higher rate at the same time benefit of section 80U is available to the person suffering from disability but not to her / his parent. Therefor a relaxation provided in 80U kind of circumstances.
Useful 👍
Thanks a lot
Sir, my father transferred ₹10 lakh to my mother by gift deed, both are non taxpayers.
Is this transaction considered as clubbing of income?
Yes since it's a case of transfer between husband and wife hence the income earned by your mother on such funds should be clubbed in the hands of your father.
If person having income of 1.2 cr. So reduce surcharge he creates trust for child and income of 20L transfer to trust. Whether clubbing provision applies or not?
Prima facie trust income should be clubbed in the hands of parent however if the parent follows cash system and trust has non-cash income then clubbing may not attract.
Thanks Sir
Welcome.
Thanks a lott sir
So nice of you Surendra bhai.
सर मै मेरे वयस्क पुत्र को प्रति वर्ष 49000 हजार गिफट रोकड देता हॅू जो उसके बचत खाते में वह जमा करवा देता है उस पर जो ब्याज प्राप्त होगा क्या वह मेरे खाते में क्लब होगा।
Sir ,Agr mein Tesla ka 1 stake $800 se buy karta hu(NASDAQ mein invest karta hu) and after 2 years ye price $1600/stake ho jta hein ,Toh mujhey US Govt. and Indian Govt. Ko kitna tax pay karna parega? Ek video bna dijiye(as an Individual invest kiya hu aur India mein hi hu and Indian citizen hu) aur kitna tax credit milega according to US-India DTAA
Ok Sir I will try.
@@CAAnoopBhatia Thank you very much sir.If possible,Make a video with my example(which was send by me above your messege here)
@@CAAnoopBhatia sir: when will u upload the video on it?
Sir, if Father has transfered a property to Son by gift deed (now legal owner is Son) and Son is receiving rent. Weather this rent income will get clubbed to father's income ?
No clubbing in my opinion.
Sir yesab hum abhi seekh rhe h inter me😊
good to know that.
Sir यदि कोई अपने वाइफ या ब्रदर को कुछ पैसे एक बार ही देता है बैंक अकाउंट में और वो उसे शेयर में निवेश करता है इसके बाद वह profit book करके दोबारा invest करता है तब भी क्या क्लबिंग होगी और क्या तब भी first holder को कैपिटल गेन पर TAX देना होगा please sir reply
Sir, suppose one transfer amount of Rs. 10 lac to mother (senior citizen) and if mother invests it and gets profit of 3 lacs after 1 year then how to consider this for tax gain?
Replied elsewhere same query, pls refer
Good after noon Sir, I need help from your side, under section 192A interest of my auto sweep saving Account convert to FD whenever I will fill ITR then in which column I mention 10000 to 40000
Sir I could not understand your query properly. However FD interest from auto sweep account should be offered in the FD interest catagory.
Thanks for climbing income
पति द्वारा पत्नी को दिया गया गिफ्ट taxable होगा या exempt । या फिर उस गिफ्ट से हुई इनकम पति की इनकम में क्लब होगी । बताएं सर
Satish ji gift by husband to wife is certainly exempt in the hands of wife. However income from such gift (if earned by wife) shall be taxable in the hands of husband only as per section 64 of the Income Tax Act 1961
@@CAAnoopBhatia thanks sir
I have transferred my wife's money in my account to invest in share market and i have earned short term capital gain. How to show this gain in her ITR? Money in her account is eared by her before marriage and now she is a housewife. Please guide.
Practically the gain should be offered in the hands of the person in whose hands transactions are undertaken you may however should show interest payable to your wife to avoid clubbing.
@@CAAnoopBhatia Thanks for reply. Continueing can i transfer whole profit with borrowed money to my wife's name? Because of this gain i am in tax slab and without this gain i have zero tax liability. Please help and guide me.
Sir , If i gift few shares to my wife, she don't sell it but, pledge those shares & trade in F&O, will that income from F &O will also be clubbed?
If AO assumes that you have transferred asset to wife without consideration then he may club F&O income.
Sir, Pin money transferred to spouse in his /her bank account falls under clubbing?
If yes, how to calculate such interest in savings account?
My spouse is working in a organization where I do not have substantial interest.
Sir as I said in my video that income from savings generated from pin money (transferred to spouse) are not subject to clubbing hence no need to worry in such case. However, figures of interset on saving bank account can simply be obtained from bank statement.
@@CAAnoopBhatia thank you sir.
Do I have show in ITR?
I use ITR 2 form, so where to disclose pin money and it's savings interest?
Sir, What tax implications will apply on transferring my retirement corpus to my husband's account and invested in fixed deposit? We both are pensioners and under 5 lacs slab. My age is 58 and my husband's age is 62 years. We are doing this just to get the benefit of my husband's age as a senior citizen.
Madam it is not advisable that you transfer funds to your husband as the clubbing provisions shall attract according to which in such case income earned by him from such funds would be taxable in your hands,
@@CAAnoopBhatia ok sir, but if it is reinvested again in his account as fixed deposit then will it be clubbed to my income again next year?
Sir me brother ki wife ko money gift krta hu use generate income kya clubbing hogi ?
no clubbing to attract as such
can women may b wife can get comission income in india .and kya income tax m club hoga .bec they think women at 65 can not do property sale.
Actual facts and circumstances are relevant to give opinion.
Sir,
Thank u so much.
If one transfers propery before marriage to spouse,event eventhough clubbing prov. doesnt apply, will fmv of asset be taken as gift and taxed accordingly
In such case clubbing should not apply.
Sir, my wife is getting monthly pension of our dependent minor child who is suffering from specific disease and government is paying some amount as pension to such persons. Where in ITR, this amount should come? Is it taxable?
Such pension is taxable in my opinion however you may claim deduction u/s 80DD or 80DDB.
Very interresting but slightly difficult to under stand .No body guide us so seriously
You are right that subject is bit difficult.
sir
Gift to a spouse is exempt so if a husband giving 2lac rs. as a gift to wife and she deposit money for FD A/c. in this case what would be tax consequences
Rohit bhai I don't object giving of gift. Its 100% exempt in the hands of receipient spouse but the gift so made if invested in FD then income from such FD shall attract clubbing in the hands of person giving gift to his / her spouse, that is the message in this video even.
Sir, my son is a minor and does option selling in stock market. His income has crossed 10 lacs this year. Option selling is purely his skill. Will his income be clubbed with me.
If F&O activity is managed by the minor on his own then no clubbing shall apply, in my opinion.
If husband retires and receives huge amount from his employer, then how he should manage?.. if he gifts to wife then clubbing will attract as u said sir
Aditi ji transferring funds to spouse's bank account is not a correct solution from clubbing point of view, this will be treated as tax avoidance. Managing such funds may have one mean in form of keeping the funds in tax free investments may be tax free bonds or continuing GPF account even post retirement.
Sir,I want add some money into my huf.how do add money into huf without attracting clubbing of income?
Please consult with your CA. You may also refer my video on HUF.
Sir if we invest 1.5 lakh in own PPF account 1.5 lakh also in name of minor child account not to claim tax benefit of 80c but, to build wealth for childs future is it allowed and will clubbing be applicable to pay taxes.
Such practice is allowed, since PPF interest is exempt hence no clubbing to attract.
@@CAAnoopBhatia thanks sir, you are giving valueable advises.
Sir, I have invested some amount in the name of my wife( who has no income ) in mutual funds. Shall I book profit up to 1 lac as LTCG ( which is exempt) in her income without clubbed in my income ?
Since the clubbing provisions are applicable hence the exemption limit of Rs. 1 lakh is inclusive of both i.e. you and your spouse.
Sir mera father government employee hai . Mai 30 saal ka hu .
Me stock market me trading karta hu . kya mera capital gains and f&o gains clubing hoga mere father ki income me.
Ya me individual ITR file karunga
Me apni father ki income se trading karta hu
No clubbing to attract in my opinion.
Thank you sir
sir,
jo minordisabled hoga oosko v income tax dena parega???
Yes in such case the ITR should be filed with the pan of minor itself, no clubbing to happen.
Sir Meri mummy, Chachi, taai ji ne mil kar ek property (land) khridi hai in py 19-20 ( one single sale deed)....& Uss property ko sale krne pe Jo capital gain lgega wo individually taxable hoga ya AOP ke status Mai MMR pe tax lgega...??
In my opinion it is coowership so every co-owner should pay capital gain tax on its own share in her ITR only.
@@CAAnoopBhatia thank you sir for guidance
Sir, How to decide amount of "Pin Money"💰. Wheather having any criteria to decide it.
Thank u sir.
There is no such criteria however you have to establish it based on facts & circumstances of the case. Say you transfer Rs. 30,000 p.m. to your spouse she spends out of it for home expenses and may save some money out of it i.e. pin money in my opinion.
@@CAAnoopBhatia
Thank u sir for such a quick response.
Sir, if parents or siblings of members of huf gift fund into huf account will that income be clubbed or taxable.
If the member of HUF gives gift to HUF then such family member will be subject to clubbing provisions.
@@CAAnoopBhatia no sir, what I am asking that currently I am not part of huf as my parents never made any but after I get married make my own huf and if my parents on parents-in-laws or my siblings gift fund into my huf account will clubbing applied on any wether on me or my wife or person who gifts said amount.
Sir if I gift/transfer Rs. 500000 to my father/brother /sister through banking channel (without executing gift deed) & do a fixed deposit in their account/name. Whether Interest on this fixed deposit will clubb to my income or not?
You may give them the amount even without executing gift deed. Yet gift deed is advisable. Clubbing provisions shall not attract.
If fd is made in the name of major son who does not have any source of income , does clubbing provision apply
Welcome.
GOOD
Thanks.
Sir if a person gifts cash to daughter in law,and daughter in law invested that cash in fd then that interest will be clubbed to father in law or not
Yes clubbing provisions shall be applicable.
@@CAAnoopBhatia thanks a lot sir for your reply....really so nic of you...
Sir I have transferred 11 lakh to my wife which is fixed in the bank. The same is now showing in AIS. Should my wife file IT returns now
She should file ITR.
Respected Sir .If I deposit 1.5 lac through my account payee cheque in ppf a/c of my wife .The annual interrest of ppf a/c of wife is to be clubbed in my income .ok.Is it necessary to show the above deposit in my ITR or not.
No need prima facie as income is exempt.
My Father / mother Retired , and they
Receive 50 lakh Rs Retirement fund , if they Gift 10 Lac Rs in our son through bank transfer , and prepare gift deed...thus this is comes or Not under clubbing of income...
Ashish ji if your son is minor then clubbing shall attract in your hands otherwise not.
@@CAAnoopBhatia Ok Sir
This should be illegal, according to ICD wife doesn’t have right to earn income. And secure her life
Sir. I am 20 years old and I recieved gift from my father and grandfather of rupees 20 lakh and I invest in stock and f&o than my income is clubbed? Or not
No clubbing to get attracted. You may offer income from F&O in your hands only.
@@CAAnoopBhatia ok sir but I earn 4 lakh from equity delivery also so it STCG is in my hand or my father hand ?
If we give loan to spouse without interest.. which she will return in future...can it be clubbed??
If she earns any income from such funds then yes clubbing may attract.
Sir many apni spouse koo through gift deed. 25 lakh. Deay. Jo meey wife nay post office Td may invest kar Deay. Us par joo interest aayaga. Woo intt husband kee income may jaygaa. Yaa wife kee income may jaygaa. Please battaye.
In my opinion such intersetis taxable in the hands of Husband only.
@@CAAnoopBhatia thanks for valuable advice sir.