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class="content__text" When income of other person is included in your income and taxed in your hands, then such situation is called Clubbing of Income. Section 64(1)(ii) deals with Income arising to your spouse from certain concerns. Any income arising to your spouse, by way of salary commission, fee or any other remuneration from a concern in which you have either voting rights or beneficial interest of 20% or more. However, in case the income is earned by the spouse due to application of his/her technical knowledge or professional qualification the clubbing provisions will not apply. (Disclaimer: This video is only meant for financial education or financial literacy. This video by no means is meant for any sorts of financial advice. Investitute or it’s partners won’t liable for your loss. Please consult your financial advisor before investing.) #partnershipfirm #newbusiness #taxsaving #incometax #investment #assessment #money #finance #fws #income #itr #grow #moneymindset

December 09, 2022