Schedule SPI – Income of Specified Persons (Spouse, Minor Child, etc.) includible in the Income of the Assessee as per section 64

Section 64 of Income-tax Act, 1961

Income-tax Act contains provisions for clubbing of income of other person with the income of taxpayer. These situations arise when a minor child earns some income or when taxpayer transfers his asset to his spouse, etc.

The clubbing provisions have been introduced to stop taxpayers from diverting a part of their income to the relatives in order to reduce tax burden. In order to prevent such tax avoidance, below clubbing provisions have been incorporated in the Act:

• Clubbing of Income of Spouse

• Clubbing of Income of Son's Wife

• Clubbing of Minor's Income

• Clubbing of Income from property gifted to HUF

This schedule applies to ITR-2 and ITR-3.