Tax impact
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 September 2011
If a person sells the gold of his wife received by his wife on marriage
and husband wants to introduce the money in his existing business as capital.
What will be the tax implicatins?
and husband wants to introduce the money in his existing business as capital.
What will be the tax implicatins?
19 September 2011
Gold is a capital asset and hence liable to be taxed as capital gains.
If amount is introduced as loan from wife then no problem.
If amount is introduced as loan from wife then no problem.
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