Clubbing
This query is : Resolved
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..
11 June 2015
He can only do this by transferring the business to his wife against adequate consideration otherwise provisions of clubbing would attract.
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
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.
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
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- FEMA regulation Act. for inward remitance
- TAX AUDIT QUESTION
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- LIABILITY ADJUSTMENT
- Capital Gains on sale of residential flat
- Accounting with Claude
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
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
