Clubbing of Income applicability


What is the concept of clubbing of income and applicable under income tax?

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When income of other person is included in your income and taxed in your hands, then such situation is called Clubbing of Income. The income clubbed in your income is called deemed income. The provisions of clubbing of income are applicable only on individuals and no other type of assessee like firm/HUF/Company etc. This is allowed under Section 64 of the IT Act.

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