Applicability of Clubbing of Income
This query is : Resolved
28 March 2024
Scenario: Husband transfers 25 lac to his wife. She then invests this amount in Equity shares. She pledges this equity shares with broker to get collateral margin. She does F&O trading using this collateral margin.
Question: I understand the capital gain (if any) arising from equity investment will be clubbed with husband's income. But what about the income from F&O trading? Will it be treated as her income or also clubbed with husband's income?
Question: I understand the capital gain (if any) arising from equity investment will be clubbed with husband's income. But what about the income from F&O trading? Will it be treated as her income or also clubbed with husband's income?
29 March 2024
It will be treated as her income and will not be clubbed.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CLOSING STOCK QUERY
- Exiting partner in partnership firm in gst portal
- Residential status of non resident
- NRI INSURANCE ADVISOR
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Missed TDS
- IT returns for fresh job holders
- F&O reporting in ITR
- Query regarding reporting of exempt foreign remuneration in ITR
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- GST ISD Query on various AMCs
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
