Clubbing of income

Question

Clubbing of income

22 Apr 2024

Answer :

Word Count : 293

Clubbing of income is a provision under the Income Tax Act that aims to prevent tax evasion by taxing certain incomes in the hands of someone other than the actual recipient, typically a close relative. This provision applies when income is transferred by an individual to another person, but the transferor still retains control or benefits from that _____ _______ _______ _______ ________ ________ _____.
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Assignment Submission Last Date Extended Till 30 June 2026 Click Here★★★IGNOU June 2026 TEE Date Sheet Released Click Here★★★

		RS
1	Interest received on 7% bonds of UP Govt.	5,000
2	Income from house property	24,000
3	Dividend received on preference shares of Indian company	10,000
4	LTC Loss (Related to the year 2019-20)	7,000
5	LTC Gain	5,000
6	STC Gain	6,000
7	STC Loss	2,000