Income Source in the name of Spouse
This query is : Resolved
04 April 2023
Dear Sir,
I have Retired from Bank Service . My Income Source are Monthly Pension Rs. 50000/- , Capital Gain from Equity Market every year it is near about 2 Lakh to 5 lakh. Interest income from Fixed Deposit near about 3lakh. Also received Honorarium Amount ( Bank offer some services after Retirement) near about 2 lakh every year. All these income I have shown in Income Tax Return ITR -2. I wish some Fixed Deposit amount say 10 to 20 lakh in my Wife's Name, so that Interest Income will be in her name, as She is Housewife. How to show Income Source , amount received from me, whether in the form of Gift Deed or any other manner, so that my own tax liability get reduced.
I have Retired from Bank Service . My Income Source are Monthly Pension Rs. 50000/- , Capital Gain from Equity Market every year it is near about 2 Lakh to 5 lakh. Interest income from Fixed Deposit near about 3lakh. Also received Honorarium Amount ( Bank offer some services after Retirement) near about 2 lakh every year. All these income I have shown in Income Tax Return ITR -2. I wish some Fixed Deposit amount say 10 to 20 lakh in my Wife's Name, so that Interest Income will be in her name, as She is Housewife. How to show Income Source , amount received from me, whether in the form of Gift Deed or any other manner, so that my own tax liability get reduced.
04 April 2023
you can invest under 80c for tax saving. like lic premium ppf deposits , tax saver FDs.
Regards
Gokul Sharma
7004950802
Regards
Gokul Sharma
7004950802
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