Legal Question in Business Law in India
I own a manufacturing unit since 1993 but have recently taken up a fulltime job in a reputed company.My wife manages the unit.I want to transfer the manufacturing business to my wife.Will the income from this unit be treated as her income or it will be clubbed in my income after I transfer the unit to her
Asked on 4/08/13, 8:14 am
2 Answer from Attorneys
Jayesh Desai
Jayesh Desai
More facts needed to answer, also depends om how you word the document by which you transfer. If it can be shown that your wife is earning due to her competence then the incoem generated cannot be added to you.
Answered on 4/09/13, 5:06 am
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