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

Share
Share This Thread
  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.

    thanks
     
  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
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
Is transferring money from abroad considered as Black Money Income Tax Jul 2, 2015
Transferring PF amount to Abroad Income Tax Jan 1, 2015
Need help to do TDS for NRI property sale Income Tax Nov 5, 2018
TDS on Sale of Property paid twice Income Tax Aug 24, 2018
tax deduction for LIC Deposit, Self occupied house Property tax Income Tax Apr 10, 2018