How to transfer money ?

Guest (Querist) 29 September 2013 This query is : Resolved
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R.K Nanda (Expert) 29 September 2013
CONSULT TAX LAWYER.

Guest (Querist) 29 September 2013
R.K.Nanda Sir,

I am an junior advocate from kolkata and this case is regarding my client. Please help if it is possible.

Thanking you.

Sudhir Kumar, Advocate (Expert) 29 September 2013
it is primarily financial query not legal

Guest (Querist) 30 September 2013
Sir, it is a query about taxation of the money i am talking about and i think the consequences will be dire if i wrongly suggest to transfer it. Now, Can anybody please help me out with this query.

Anirudh (Expert) 30 September 2013
Dear Mr. Somsurva,
The person cannot avoid tax on the income earned by his wife. So advice your client not to get into any such funny idea. There are enough provisions in the I.T. Act to plug such activities.

Please note, the wife cannot put all the Rs. 10 lakhs in one go in the PPF. Maximum only Rs. 1 lakh can be put by her.

Guest (Querist) 30 September 2013
Thank you Anirudh for your comments. But can you please tell me what are the above provisions you are talking about by which such money can be transferred to avoid clubbing ..

Anirudh (Expert) 30 September 2013
I said that the person cannot avoid tax by such methods. I DID NOT SAY that there provisions by which such money can be transferred to avoid clubbing . Therefore the question of my indicating / telling you such provisions does not arise.

Guest (Querist) 30 September 2013
But you said that """ There are enough provisions in the I.T. Act to plug such activities. """ ?
So, what are the provisions ?

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