Transferring Property to Wife's name to reduce Tax on Rent

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  1. Sanjay Shevade

    Sanjay Shevade New Member

    Dear Sir

    Can i gift my house property to my wife to avoid income tax which is included in my income . My wife is home maker . so the income generated from rent will be on wife name.

  2. Manoj Mehra

    Manoj Mehra Active Member

    No tax would be levied at the time of gifting of property as the gift has been made to a relative.

    However, provisions of clubbing of income will apply in this case and the Rent received would not be taxed in the hands of your wife but taxed in your hands.

    Therefore, no benefit will arise in this case
  3. Sanjay Shevade

    Sanjay Shevade New Member

  4. Sanjay Shevade

    Sanjay Shevade New Member

    Thanks a lot for your clarification
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