03 February 2011
IF HUSBAND WORKING PROFESSIONAL & WIFE SALARIED, & HUSBAND GIVE A HANDSOME AMOUNT THROUGH CHEQUE TO HIS WIFE, THAT AMOUNT IS TAXABLE OR NOT?
& HOW MUCH TURNOVER IS COMPULSORY FOR AUDIT IN PROFESSIONAL INCOME ?
WHAT IS THE LAST DATE FOR RETURN FILING INDIVIDUAL OR PROFESSIONAL?
03 February 2011
If husbang give gift to his wife. Gift is not taxable. But any income earned by wife from that gifted amount will be clubbed under section 64(1)(iv)of the IT Act
Tax Audit limit for preofesional is 15 lacs
If Tax audit is required - 3oth September in other case - 31st July
CAclubindia
