clubing provision
This query is : Resolved
CA Vishal Harsora
(Querist)
13 August 2009
fund trnsfer from Husband is invested in HP by his wife whether income earned from such property is clubed in husband income or not ? please specify section?
Venkat Rao Marella
(Expert)
13 August 2009
The property income will be transfered in the hands of the person who is the legal owner of the property. That cannot be clubbed in the hands of any other person.
However, the wordings you used in the query gives the clour of money laundering and thus the income can be taxed in the hands of the person who earned the income and diverted the same to some other person for "SO CALLED TAX PLANNING".
Venkat.
However, the wordings you used in the query gives the clour of money laundering and thus the income can be taxed in the hands of the person who earned the income and diverted the same to some other person for "SO CALLED TAX PLANNING".
Venkat.
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