Sri transferred his residential property to his wife by way of a gift settlement. During the financial year 2021-22, his wife got a rental income of ₹25,000 p.m. She made a fixed deposit in the bank from the rental incom
CS Executive · Tax Laws · PYQS · June 2022
Sri transferred his residential property to his wife by way of a gift settlement. During the financial year 2021-22, his wife got a rental income of ₹25,000 p.m. She made a fixed deposit in the bank from the rental income and she has earned an interest income of ₹32,000. State the income taxable in the hand of Sri and his wife for the Assessment Year 2022-23?
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Income Tax Act, 1961
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