Payment of housing loan of my wife
This query is : Resolved
18 April 2020
Dear Sir
My wife availed housing loan in her sole name and o/s is around Rs 35 Lacs. if I repay entire loan from my superannuation fund, will it be taxable to me or my wife.
My wife availed housing loan in her sole name and o/s is around Rs 35 Lacs. if I repay entire loan from my superannuation fund, will it be taxable to me or my wife.
19 April 2020
question of taxable not arise for repayment of housing loan
24 April 2020
If you square off your wife's loan account from your money then you can treat that amount as gift to your wife. So it will not be taxable at all.
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
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- Relief u/s Section 89
- TDS Challan Code
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
