CLUBBING OF OTHER INCOMES

Besides clubbing of income of minor-children in the hands of the parent, certain other incomes are also liable to be clubbed in the hands of the individual in the following circumstances:-

1. When the income arises to the spouse of such individual from assets transferred directly or indirectly to the spouse by the individual othersie than for adequate consideration or in connection with an agreement to live apart.[Section 64(1)(iv)].
2. When the income arises to the son's wife from assets transferred after 1st June 1973, to the son's wife by the individual for inadequate consideration. [Section 64(1)(vi)].
3. The income which arises to any person from assets transferred for inadequate consideration by the individual to such person is to be clubbed in the hands of such individual to the extent to which the income from such assets is for the immediate or deferred benefit of the individual's wife or in case of assets transferred after June 1st, 1973 of his son's wife. [Section 64(1)(vii) & (viii)].