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HUSBAND INCOME CLUBBING
Gold falls Rs 15,000/10gm, silver slips Rs 45,000/kg in June 2026: Should you invest now or wait for further correction?Gold and silver prices have seen significant drops in June, presenting a buying opportunity for new investors. Existing investors are advis...- Husband has to pay income tax on wife’s earnings from FD, gold, shares under clubbing of income in these casesITR filing: Transferring investments to your spouse to save taxes is a common misconception. The Income Tax Department scrutinises fund sou...
- Husband trades through wife’s demat account, incurs Rs 1.95 crore loss; tax dept sends notice over clubbing of income, ITAT Lucknow grants him reliefA husband's attempt to offset substantial stock market losses against his income was initially rejected by tax authorities. Despite trading...
- From ₹5,000 salary to ₹48 crore turnover: Meet Nayana Vaidya, a pharma saleswoman, who built a healthcare distribution company from scratchNayana Vaidya built Om Sai Surgicals from a modest beginning. Her company achieved a turnover of nearly ₹48 crore. Vaidya finds satisfactio...
- I gifted my wife Rs 10 lakh. Should I show it in my ITR or let her pay income tax on it?ET Wealth Reader's Query: I gifted my wife Rs 10 lakh, which she will report as “exempt income” in her ITR. If she invests this amount in a...
- Is it legal to transfer money to wife’s account to save taxes?When it comes to transferring funds to your spouse for tax benefits, it's crucial to understand the rules involved. Any income generated fr...
- Property and assets gifted to son's wife: Will the income from it be clubbed to your income for tax purposes?Clubbing of income occurs when one person is taxed on another's income, often involving transfers to family. Tax expert Suresh Surana clari...
- Husband has to pay income tax for wife’s Rs 17-crore land sale deal due to this reason; ITAT Bangalore ruling explainedIn a recent ruling, the Income Tax Appellate Tribunal (ITAT) Bangalore held that a wife is exempt from income tax on the ₹17.26 crore sale ...
- What is clubbing provision in Income Tax Act? When is it applicable?If you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 6...
- Income from asset transferred to even your daughter-in-law will be clubbed to your income and will be taxable in your hand in this case, says income tax deptIncome tax clubbing: The tax department has released a new brochure saying Section 64(1)(vi), 64(1)(viii) says Income from Assets transferr...
- Should you finance your spouse’s new business?Reema worked for a while with an export house after graduating. She stopped working after having children. Now that her two kids are older,...
- Should spouse finance one’s new business?Decision will depend on how profits from the business will be taxed.
- What is Pin Money and how does a woman save taxes on the sameIt is the money saved out of whatever amount a wife gets every now and then for running the household, a sort of pocket money.
- Can laid off employees save tax on their severance pay?According to the provisions of Rule 21A(1)(c), an individual will be eligible to claim relief under Section 89 in respect of compensation r...
- My husband credits Rs 30,000 in my account which I invest in mutual funds. Do I need to file ITR?If you reinvest the earnings from your investment and earn further income, then such income will not be clubbed with the husband’s taxable ...
- Clubbing of income: When you are liable to pay tax on another's incomeSometimes, a taxpayer may have to pay tax on the income of another person. Clubbing provisions in the I-T Act include reporting such income...
- Take loan instead of money handout from spouse to fund new business: Here's whyTaking a loan from a bank or lenders will require a margin or security in some form.
- Why you can't just 'gift' away your tax liabilitiesAny income generated from gifted money has to be shown in the `income from other sources' sheet (Schedule OS) and also in the `income from ...
- Query Corner: TaxationOur expert Vaibhav Sankla, Executive Director, Adroit, guides you in matters related to taxation.
- How to cut tax by investing in spouse's nameGains from the investments made in the name of your spouse will be treated as your income and taxed accordingly. Here is how you can avoid ...
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