my income is taxed in 30% slab. my wifes gross income is around 3 lacs basically from interest from the firm in which i am proprietor.i want to take a housing loan and take maximum section 80 c and housing loan intrest payment deduction in my wifes as well as my file.i want to gift share of my capital to her around rs. 30 to 35 lacs presently her capital being around 28 lacs making capital around 60 lacs give interst to her and make her income around 12 lacs and take deduction of rs. 1.5 lacs on principal repayment and 2 lacs hosing loan intrest payment and there by make full use of the slab. is this way possible. is there any other way out. please suggest me i will be thankfull
CAclubindia
