Question

If an individual has a substantial in any concern then_____ payable to his/her spouse is taxable in the hands of the said individual

Answer 1

Answer:

Explanation:

Where both the husband and the wife have a substantial interest in concern and both are in receipt of remuneration from the said concern, then the remuneration of both shall be clubbed together in the hands of that spouse whose gross total income, before including such remuneration, is higher.

Answer 2

If an individual has a substantial in any concern then remuneration payable to his/her spouse is taxable in the hands of the said individual.

• If both the husband and wife have a significant stake in the business and are receiving compensation from it, the couple's compensation will be combined and given to the spouse whose overall income is higher than the other's before taking such compensation into account.
• If a person receives any money from their spouse in any of the following methods, their income is combined with their spouse's income. Direct payment of salary or compensation to the spouse. a spouse's salary, compensation, or commission received from a company in which the assessee owns a sizable stake.
• The spouse whose total income before incorporating such pay is bigger will receive credit for the remuneration if both spouses have a considerable stake in the business and both receive compensation from the business.

Hence, the correct answer here is remuneration.

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