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Systematic transfer to spouse's account (for paying car emi)

Tax queries 311 views 1 replies

Hi all

We will soon be purchasing a car on my wife's name. However, since I wish to pay the EMIs, we have planned that I would transfer the EMI amount to her account every month. I am paying all the applicable IT on my salary including the part which I will be transferring to my wife's account for EMI. Would getting this amount be a problem to my wife's IT returns? Would it be calculated as her income? 

 

Thanks and regards

Replies (1)

Anyway, there is no tax benefit on car loan EMI, unless used for business purpose. So, anyone can pay EMI, but better to pay from joint account.


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