2. CLUBBING
OF INCOME
without
transfer of
assets
Revocable
transfer of
assets
Income of
•spouse
•daughter-in-
law
•business
Transfer of assets to
other persons or
association of
persons for the
benefit of spouse
son’s wife
Income of other persons included in the Assessee’s Total Income
3 CLUBBING OF INCOME
Cross
transfer
Benami
transactions
3. Income of physically or mentally handicapped minor child
Income from activity involving application of his skill, talent or
specialized knowledge and experience.
Income from manual work done by the minor
Exceptions
Income of a minor child
4. Income from business
*
Value of the asset
transferred by transferor
on the 1st day of
previous year
Total investment
on the 1st day of
previous year by
transferee
The profit share of
transferee from
business