Clubbing of income
This query is : Resolved
02 November 2017
Dear Experts
If any individual transfer/gift a land to his wife without any consideration. his wife sell this property and give loan this sales consideration to her son and earn interest on it.
Income taxable in hands on wife or husband,
1.Capital gain
2. Interest received
If any individual transfer/gift a land to his wife without any consideration. his wife sell this property and give loan this sales consideration to her son and earn interest on it.
Income taxable in hands on wife or husband,
1.Capital gain
2. Interest received
02 November 2017
1. Capital gain is assessable in the hands of husband.
2. Wife is liable to pay tax on interest.
2. Wife is liable to pay tax on interest.
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