Clubbing

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CA JAYESH RELKAR (Querist)
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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

Ankur Singhal (Expert)
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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

CA JAYESH RELKAR (Querist)
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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

Ankur Singhal (Expert)
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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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