Clubbing of Income on Property Gifted to Spouse or Minor Child-Section 64 of Income Tax Explained
You gifted your spouse a house. A heartfelt gesture, right? Until you realize—you’re still the one footing the tax bill on the rental income. Welcome to one of Income Tax Act’s quietest but most cunning rules: Clubbing of Income under Section 64. In this blog, we’ll walk you through how gifting property to your spouse … Read more