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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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