Tds under section 194h

Dear sir, 

I am having doubt that Can an assessee who is receiving income under section 194H receiving the brokerage income in his spouse account and paying tax in the spouse ITR by giving his spouse PAN? If not which section prohibits the assessee to do such. As it is not a clubbing of income because assessee is receiving income in his spouse and giving his wife's PAN. It clearly states that his wife is receiving brokerage income amd he is paying tax from his wife ITR also. 

 

Nowadays people are not ready to allow assessee to take the income in his spouse bank account after the PAN details.I really want to know the reason.

Please help!. 

 

Replies (1)

In case, the wife (and not himself) is registered as broker/agent with the principal like LIC etc. with all the KYC done with wife's PAN; (even though he may be working for the commission income), on paper wife works for the business, and  clubbing of income would be out of question.

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