Interest rate for loan to spouse--Section 64 (iv)/(vii)
This query is : Resolved
05 July 2008
Will it be ok to use the interest rate of 8% for 1 year loan to spouse in today's market scenario for IT computation?
The intention is to use adequate maximum rate. Exact scenario is given below :-
Husband's(H) gross income is higher than wife's gross income. Wife(W) gives her professionally earned money to Husband (H)as loan. H opens FD with bank. Bank deducted TDS with H PAN.
The intention is to use adequate maximum rate. Exact scenario is given below :-
Husband's(H) gross income is higher than wife's gross income. Wife(W) gives her professionally earned money to Husband (H)as loan. H opens FD with bank. Bank deducted TDS with H PAN.
06 July 2008
If H is able to establish the characteristics of loan from W it is ok to treat it as such.
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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- TDS on Consultancy- Non DTAA
- Reopen of assessment proceeding
- Depreciation of fixed assets- coop housing society in mumbai
- Management System (IMS)
- Condonation . E-Verification of last year return .
- Eway bill generation from place other than registeted
- GST rate and HSN code for sale of racing horses
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Rental income gst and it purpose
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
