Loan to spouse
This query is : Resolved
Mayank Maheshwari
(Querist)
23 July 2013
My question is - if I provide interest free loan to my wife by cheque (supported with a loan agreement on stamp), she put that money in fixed deposit and earn interest there on. Will that interest attracts section 64? Will it be clubbed? Will there would be any penalty for evasion of tax.? Also let me know supporting judgements of your answers? I had a argument on this topic with my CA. Your answers would be so appreciable.
CA PARAS BAFNA
(Expert)
23 July 2013
For the preparation of a "debate" the following link will "suit" you the most-
.
https://www.caclubindia.com/experts/gift-tax-1367064.asp
.
https://www.caclubindia.com/experts/gift-tax-1367064.asp
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