Income Tax implication between transaction of Husband and wife
This query is : Resolved
Dhanesh Koshti (dkk)
(Querist)
23 August 2023
Dear Team,
I am a salaried person any paying income tax as per the ITR1 every year since last 20 yrs. My query is as below:
My wife is housewife and trading in stock market particularly in F&O.
As I am a salaried person, I can get person loan from any source easily. I wanted to know if I avail a loan in my name and transfer it to my wife there are there can be two options:
a) I transfer the loan which I availed as a gift to my wife
b) I transfer the loan to my wife as a loan between two of us.
My wife will utilize that amount for her F&O trading. So, which out of both which option is more suitable and legal for tax purpose which does not affect my tax implications as salaried person. AND my wife will pay tax on her F&O income as per tax rules.
I am a salaried person any paying income tax as per the ITR1 every year since last 20 yrs. My query is as below:
My wife is housewife and trading in stock market particularly in F&O.
As I am a salaried person, I can get person loan from any source easily. I wanted to know if I avail a loan in my name and transfer it to my wife there are there can be two options:
a) I transfer the loan which I availed as a gift to my wife
b) I transfer the loan to my wife as a loan between two of us.
My wife will utilize that amount for her F&O trading. So, which out of both which option is more suitable and legal for tax purpose which does not affect my tax implications as salaried person. AND my wife will pay tax on her F&O income as per tax rules.
CA R SEETHARAMAN
(Expert)
23 August 2023
Give it as loan wife can pay income tax on F&O.
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