Income from share

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3 Points Posted on 03 April 2021

My wife take amount from her father and invested in share. Is the profit earned from share clubed with my income or only her income?. I am a salaried person and pay income tax.

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On 03 April 2021 at 22:32 Report
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Quick Summary
If your wife invests money received from her father into shares, the profits earned are taxable under her name, not yours. It's important for her to be able to document the source of the funds, whether it was a loan or a gift, with a loan being a safer option for establishing the transaction.

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Chartered Accountant
24588 Points Posted on 04 April 2021
No, it is taxable under your wife's hand
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On 04 April 2021 at 06:26
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17269 Points Posted on 04 April 2021
It is taxable in the name of your wife only.
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On 04 April 2021 at 10:13
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3 Points Posted on 04 April 2021

Thank you for your quick reply

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On 04 April 2021 at 11:01
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379 Points Posted on 04 April 2021

She should be able to estaiblish the transaction from her father whether loan or gift. Loan is safe as she can start her share treding on it.

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On 04 April 2021 at 13:37

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