Clubbing of Income

Tax Glossary Definition

Clubbing of Income

Clubbing of income refers to the inclusion of another person’s income in the taxpayer’s total income under certain situations specified in the Income Tax Act. This provision prevents tax evasion through transfer of assets or income to relatives or others with the intent to reduce tax liability.

Example: If a husband transfers assets to his wife without adequate consideration, any income generated from those assets will be clubbed with the husband’s income for tax purposes.

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