Explain whether income would be clubbed or not
This query is : Resolved
31 December 2014
If an assessee gave ₹50 lacs to his spouse as gift, and the spouse acquire a house from that cash amount and gave it on rent.So whether house rent income would be clubbed or not in assesse's hand?
31 December 2014
Yes...The rent Income will be clubbed in an Assessee's income.
However, if spouse reinvests the Rent income and earns further income then such income may not be clubbed with Assessee's taxable income.
However, if spouse reinvests the Rent income and earns further income then such income may not be clubbed with Assessee's taxable income.
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