Clubbing
This query is : Resolved
CA JAYESH RELKAR
(Querist)
10 June 2015
If Mr.X has two business say A & B. If mr.X wants to trf business A to his wife; then how he can do so without attracting clubbing provision... plz explain in detail..
Ankur Singhal
(Expert)
11 June 2015
He can only do this by transferring the business to his wife against adequate consideration otherwise provisions of clubbing would attract.
CA JAYESH RELKAR
(Querist)
13 June 2015
actually assessee's income is below basic ex. limit.... for FY 2014-15... but in FY 2015-16 total surely exceeds the limit.... so we are planning to shift business B to assessee's wife in such a way that clubbing provisions doesnt get attracted..... please advise in this regard
Ankur Singhal
(Expert)
15 June 2015
To avoid provisions of clubbing there should be transfer against adequate consideration. He ca transfer it to his wife in case of divorcee only without consideration.
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