Sec. 269 SS

[sathyanarayanan kasinathan]

Whether payments by Husband to contractors doing carpentry and other work in house built by wife attracts   Section 269SS These are repaid by waife after a year.

Both husband and wife are assessees.

Sathya

AI Summary

Are Payments by Husband for Wife's House Work Subject to Section 269SS of Income Tax Act? A discussion on whether payments made by a husband to contractors for work on a house owned by his wife fall under Section 269SS of the Income Tax Act. The husband and wife are both assessees, and the wife repays the husband after a year. One contributor suggests the transaction falls under Section 269SS unless recorded as drawings. Another notes it is recorded as drawings in the husband's books. A third contributor states the applicability depends on the wife's accounting, suggesting that if treated as a loan, Section 269SS might apply, but direct payments to contractors may not constitute a 'deposit' or 'loan.'