CLUBBING OF WIFE’S INCOME WITH THAT OF THE ASSESSEE

CLUBBING OF WIFE’S INCOME WITH THAT OF THE ASSESSEE https://www.taxtmi.com/article/detailed?id=13098 Section 64(1) clubs spouse's income includible in the assessee's total income where remuneration or transfers without adequate consideration exist. Sections 54 and 54F exempt long term capital gains where net consideration is reinvested in a residential house, subject to timing and deposit conditions; pre 2015 law permitted investment in more than one unit if treated as a single residential house. Beneficial ownership, source of funds, and physical integrability of units determine eligibility rather than title alone. en-us Mon, 11 Nov 2024 15:49:22 +0530 Mon, 11 Nov 2024 15:49:22 +0530 TaxTMI RSS Generator CLUBBING OF WIFE’S INCOME WITH THAT OF THE ASSESSEE https://www.taxtmi.com/article/detailed?id=13098 Section 64(1) clubs spouse's income includible in the assessee's total income where remuneration or transfers without adequate consideration exist. Sections 54 and 54F exempt long term capital gains where net consideration is reinvested in a residential house, subject to timing and deposit conditions; pre 2015 law permitted investment in more than one unit if treated as a single residential house. Beneficial ownership, source of funds, and physical integrability of units determine eligibility rather than title alone. Articles Income Tax Mon, 11 Nov 2024 15:49:22 +0530 https://www.taxtmi.com/article/detailed?id=13098