clubbing of income
Ajay Agarwal
(Querist) 20 September 2018
This query is : Resolved
My Query -
If a land owner (husband) transfer/gift this property to his wife (house wife) without any consideration . And his wife sell this property to anyone with consideration. Further wife gives this amount (sales consideration) as loan to husband and receives interest on it.
Questions - 1. sales consideration taxable in hands of wife or husband.
2. can wife give sales consideration amount to her husband as loan.
3. If yes, interest taxable in hands of wife or husband
4. If no, can wife give sales consideration to her husband as a gift.
5. can wife give this sales consideration to her son as a loan and receive interest on it. 6 then interest received from son taxable in hands of wife ir husband.
Thanks
P. Venu
(Expert) 21 September 2018
Is this query or a question paper or a riddle?
