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Section
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Person whose income to be clubbed
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Nature of income to be clubbed
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Person in whose hands to be clubbed
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64(1)(ii)
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Spouse
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Salary, commission, fees, remuneration from concern where individual has substantial interest. If spouse possesses technical/ professional qualification and income is solely attributable to the application of such knowledge, it is not to be clubbed
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Spouse having substantial interest in the concern
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64(1)(iv)
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Spouse
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From assets transferred to spouse for inadequate consideration other than (i) transfer under an agreement to live apart, or (ii) an income from house property includible under Section 27(i). Interest on capital contributed in the firm out of the transferred funds will however, be clubbed. Where assets transferred are invested in any business, income arising out of the business shall be taxed in proportionately
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Transferor
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64(1)(vi)
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Son's wife
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From assets transferred (after 1-6-1973) to son’s wife for inadequate consideration. Interest on capital contributed in the firm out of the transferred funds will however be clubbed. Where assets transferred are invested in any business, income arising out of the business shall be taxed proportionately
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Transferor
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64(1)(vii)
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Spouse
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Income for immediate or deferred benefit of spouse from assets transferred for inadequate consideration to an AOP or a person
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Transferor
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64(1)(viii)
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Son's wife
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Income for immediate or deferred benefit of son’s wife from assets transferred for inadequate consideration (after 1-6-1973) to an AOP or a person
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Transferor
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64(1A)
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Minor child (except a minor child suffering from any disability mentioned in Section 80U)
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Any income accruing/ arising to a minor, except income from: a) manual work, or b) application of his skill, or talent, or specialised knowledge and experience
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- 1st year: That parent whose income is higher. Subsequent years; the same parent — unless the AO is satisfied that it should be clubbed with the other parent.
- where marriage does not subsist, in the hands of the custodian parent.
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Exempt up to ₹ 1,500 per minor [section 10(32)]
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64(2)
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HUF
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Income from property converted to HUF property or transferred to HUF by an individual (after 31-12-1969) for inadequate consideration. If converted property is partitioned, income from partitioned property received by spouse, is clubbed in the hands of the individual.
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Transferor
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