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income tax

Others 188 views 2 replies

umesh rewani

AAO

64 Points Posted on 14 August 2018

My wife is house wife. I deposit Rs 25,000 every month into her account from my account. Will she have to pay tax on the money that I deposit into her account and show it as income from other sources?
please explain elaborately.

Replies (2)

Gauthami

Student CA Final

431 Points Posted on 15 August 2018

no...an income cannot be taxed twice as per income tax act...if you are paying tax on that income ur wife need not pay... otherwise she should

rama krishnan

12244 Points Posted on 15 August 2018

the amount you transferred to wife's account will not tax but any income generated out of that transferred amount has to be clubbed in your income and charged to tax accordingly

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