income tax
This query is : Resolved
26 March 2009
if a wife having her first name in a savings bank a/c and second name of her hushand for operation e or s ) transfers some funds to Savings bank a/c of her husband (whose a/c has second name of wife for operation e or s) for the purpose of repayment of home loan of their son having loan a/c in some other city but the bank name being the same that of husband's a/c what will be the position of incometax. The purpose of transferring the amount to husband's a/c is that the amount to be transferred to son's home loan a/c is done without any bank charge and within minutes. Wife's a/c is in some other bank which does not transfer the funds without charge and requires 2/3 days for transaction.
An early clarification requested
achyut g.bhalerao
An early clarification requested
achyut g.bhalerao
26 March 2009
No problem, But make sure the source of income is showed for the purpose of tax Planning.
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