Advance given to wife for buying a property ; tax treatment?
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Answer / md
according to section 64 of income tax act. any advances
given to to you wife is not regarded as advances it wil be
taxed in your hand.
Is This Answer Correct ? | 4 Yes | 1 No |
Answer / muruasm
hi, i gave some amount to my wife for a property purchase
and the property was registered her name. the amount which i
gave for the property was my own income (salary). what is
the tax treatment for this amount, can i show it as a loan
given to wife. also how it will be treated in my wife's ITR?
and also my ITR?
Is This Answer Correct ? | 2 Yes | 3 No |
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