Plan to save tax by investing in spouse’s name? That could spell trouble

You can use your income to buy an asset for your spouse. But any income from that asset will be clubbed with your income and taxed accordingly. This can’t be taxed as part of your spouse’s income. Doing so can get you an income tax notice.

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​ You can use your income to buy an asset for your spouse. But any income from that asset will be clubbed with your income and taxed accordingly. This can’t be taxed as part of your spouse’s income. Doing so can get you an income tax notice. You can use your income to buy an asset for your spouse. But any income from that asset will be clubbed with your income and taxed accordingly. This can’t be taxed as part of your spouse’s income. Doing so can get you an income tax notice.  Moneycontrol Latest News Read More