Regarding decalre of vehicle in it returns
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 January 2014
Dear sir,
One of my colleague having a vehicle in her wife name she is not having any income from work. Now he can declare that vehicle of his income tax return filing.
One of my colleague having a vehicle in her wife name she is not having any income from work. Now he can declare that vehicle of his income tax return filing.
02 January 2014
if the vehicle was bought through the income/resources owned by your colleague, then he should be considered the beneficial owner of the said vehicle and can include it in his balancesheet. Any future income from the said vehicle would be added to his income under clubbing provisions.
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