Answers On Topic: Clubbing of income
Sir, The wife purchased a property and the funds for purchase were paid from husband's bank account. The wife does not have any income and is a house wife. The property is given on rent and the wife is in receipt of rental income. Will this rental income be clubbed in the hands of the husband? If so, under which clause of section 64 of the Act? Please clarify.
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once property recd from relatives is exempt under the proviso to 56 , is it liable to clubbing u/s 64 for life time on notional/actual income of the same ?
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I have transferred some shares to my wife. The income from dividends is offered by me u/s 64 for taxation. However I do not get the benefit of TDS made on those dividends. What steps I am required to take to claim the TDS in my return which is shown in her Form 26AS.
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Full tax was paid by wrongly offering income in hands of spouse Mrs A and tax on LTCG was paid fully . What remedy lies for the other spouse Mr A whose case is reopened for same tax and same income ?
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Property is taken in the name of wife but cost borne by husband,the property is rented and proceeds credited to wife accounts....in whose hand will it be taxable....whether clubbing provisions will be applicable
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