Income tax
This query is : Resolved
06 January 2013
Hello All
Happy New Year
I am Sanjay working as an accountant. I want to know that if a husband gives cheque for household exp to his wife and wife deposits cheque in her account for the expenses of household, then is this amount recieved can be treated as her income or not. Kindly advise.
One more thing What is the meaning of leneal or decendent in Gift.
Thanks & Regards
Sanjay
Happy New Year
I am Sanjay working as an accountant. I want to know that if a husband gives cheque for household exp to his wife and wife deposits cheque in her account for the expenses of household, then is this amount recieved can be treated as her income or not. Kindly advise.
One more thing What is the meaning of leneal or decendent in Gift.
Thanks & Regards
Sanjay
Guest
Guest
(Expert)
06 January 2013
not it will not be treated as income of the wife
06 January 2013
Whether the wife really makes withdrawals for expenses against the amount received from her husband ? -
.
Whether the husband treats the amount given to his wife as Drawings or HHE ?
.
If the answer to the first question is almost yes, and to the second one is a certain yes- there will be no taxability.
.
Lineal Ascendants means father, grandfather...and lineal descendants means son. grand son.....of the individual.
.
Whether the husband treats the amount given to his wife as Drawings or HHE ?
.
If the answer to the first question is almost yes, and to the second one is a certain yes- there will be no taxability.
.
Lineal Ascendants means father, grandfather...and lineal descendants means son. grand son.....of the individual.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- Sale of property furniture sale
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
