As per the applicable provisions, while calculating your total income, any income (direct or indirect) arising to your wife, from assets transferred by you directly or indirectly to her, for inadequate consideration, should be included in your income.
The taxation rules for debt mutual funds have changed from April 1, 2023. Most of the common debt investment options are taxed at the income tax slabs applicable to their income. However, LTCG on this debt investment option is still taxed at 10%. Read on to know which debt investment is this.