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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Income from share
Replies (4)
No, it is taxable under your wife's hand
It is taxable in the name of your wife only.
Thank you for your quick reply
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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