GIFT RECEIVED FROM SPOUSE IN THE FORM OF LAND
This query is : Resolved
21 February 2022
HELLO TEAM,
A WIFE HAS TRANSFERRED MONEY FROM HER BANK ACCOUNT INTO HER HUSBAND BANK ACCOUNT FOR HUSBAND PROPRIETORY BUSINESS EXPENSES AND INVESTMENT PURPOSE.
AS PER RULE IF INCOME GENERATED ON INVESTMENT IT WILL TAXABLE UNDER WIFE INCOME.
SO PLEASE HELP ME ABOUT IF THE MONEY WILL USED FOR BUSINESS PURPOSE . WILL IT BE TAXABLE UNDER WIFE INCOME OR HUSBAND ITSELF.
A WIFE HAS TRANSFERRED MONEY FROM HER BANK ACCOUNT INTO HER HUSBAND BANK ACCOUNT FOR HUSBAND PROPRIETORY BUSINESS EXPENSES AND INVESTMENT PURPOSE.
AS PER RULE IF INCOME GENERATED ON INVESTMENT IT WILL TAXABLE UNDER WIFE INCOME.
SO PLEASE HELP ME ABOUT IF THE MONEY WILL USED FOR BUSINESS PURPOSE . WILL IT BE TAXABLE UNDER WIFE INCOME OR HUSBAND ITSELF.
26 February 2022
Husband's business income itself.
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