Income tax
This query is : Resolved
06 January 2013
Hello All
Happy New Year
I am Sanjay working as an accountant. I want to know that if a husband gives cheque for household exp to his wife and wife deposits cheque in her account for the expenses of household, then is this amount recieved can be treated as her income or not. Kindly advise.
One more thing What is the meaning of leneal or decendent in Gift.
Thanks & Regards
Sanjay
Happy New Year
I am Sanjay working as an accountant. I want to know that if a husband gives cheque for household exp to his wife and wife deposits cheque in her account for the expenses of household, then is this amount recieved can be treated as her income or not. Kindly advise.
One more thing What is the meaning of leneal or decendent in Gift.
Thanks & Regards
Sanjay
Guest
Guest
(Expert)
06 January 2013
not it will not be treated as income of the wife
CA PARAS BAFNA
(Expert)
06 January 2013
Whether the wife really makes withdrawals for expenses against the amount received from her husband ? -
.
Whether the husband treats the amount given to his wife as Drawings or HHE ?
.
If the answer to the first question is almost yes, and to the second one is a certain yes- there will be no taxability.
.
Lineal Ascendants means father, grandfather...and lineal descendants means son. grand son.....of the individual.
.
Whether the husband treats the amount given to his wife as Drawings or HHE ?
.
If the answer to the first question is almost yes, and to the second one is a certain yes- there will be no taxability.
.
Lineal Ascendants means father, grandfather...and lineal descendants means son. grand son.....of the individual.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- ETDS return q4 25-26
- Intimation under section 245
- Section 269ST applicability for capital introduced by partner to his partnership firm
- GST input credit on commercial property
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
