Posts Tagged ‘save tax clubbing of income’

Clubbing Income and Income Tax – Practical Cases

Clubbing Income and Income Tax – Practical Cases

Clubbing of Income meaning including income of another person in your income. An obvious question is why you should do that? It will unnecessarily increase your tax liability. Yes, you are correct, however in certain circumstance you cannot avoid clubbing of others income with your income. The income tax department wants to make sure you are not evading tax using your income (Income tax section 60 to 64). Clubbing of Income and Income Tax – Practical Cases Clubbing of income […]