Saving by housewife is taxable or not

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 November 2016 Dear All
husband has been given Rs. 30000 PM to his wife for house hold expenses however the housewife gratually saved the some money Rs. 467000/- pls clarify weather this saved money is exempt or taxable, if exempt under which section......

Thanks in Advance

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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20 November 2016 Saving by housewife is not taxable income. Since money is already suffered tax in the hands of husband since husband gives Rs.30000/- his income comes under tax purview.