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Tax Clubbing Provisions available for a homemaker
28-Jul-2023 (In Tax Law)
I had gifted some money to my wife and she converted the amount into an Fd.The interest on it is added into my income as per the clubbing provisions. My queries- Does she need to fill tax return as she is a homemaker? Do I need to mention my PAN in her bank account to get TDS benefit? In which business she could invest the money so that the clubbing provisions would not be applied?
it is hypothecal question.
point to be noted
1. any gift between husband and wife is not taxable
2. take interest in the account of wife and tds to be deducted from her account
3. file return with interest and other incomebin name of wife
however amt of income ,gift ,inerest etc had to take on papers
take advice with all information abovesaid
point to be noted
1. any gift between husband and wife is not taxable
2. take interest in the account of wife and tds to be deducted from her account
3. file return with interest and other incomebin name of wife
however amt of income ,gift ,inerest etc had to take on papers
take advice with all information abovesaid
Helpful?
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Adv. Mohit Agarwal
Delhi | 25+ Answers
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