Poonawalla fincorps
Poonawalla fincorps

Explain whether income would be clubbed or not

This query is : Resolved 
Profile Image

Profile Image

(Querist)
31 December 2014 If an assessee gave ₹50 lacs to his spouse as gift, and the spouse acquire a house from that cash amount and gave it on rent.So whether house rent income would be clubbed or not in assesse's hand?
Profile Image

Mamta kholiya

Profile Image

Mamta kholiya (Expert)
31 December 2014 Yes...The rent Income will be clubbed in an Assessee's income.

However, if spouse reinvests the Rent income and earns further income then such income may not be clubbed with Assessee's taxable income.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


EasyOFFICE CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links