if an individual has a substantial interest in any concren then __ payable to his/her spouse is taxable vin the hand of siad individual
Answers
Answer:
hi there, hope this helps you
Explanation:
If the husband and wife both have substantial interest in the concern and both are in receipt of remuneration from the concern, then the remuneration of both shall be clubbed in the hands of that spouse whose total income, before including such remuneration, is greater.
Answer:
if the individual has a substantial interest in any matter, then (his) due to the spouse is taxable by the siad of the individual. I hope this helps.
Explanation:
In the event that both husband and wife have a substantial interest in a concern and both receive remuneration from said concern, then the remuneration of both will be combined in the hands of the spouse whose total gross income, before including such remuneration, is greater.
A person's income is combined with the spouse's income if any payment is received from the spouse in the following ways: Salary or remuneration paid directly to the spouse. Salary or remuneration or commission paid to a spouse from a concern in which the assessee has substantial interest.
If both spouses have a substantial interest in the concern and both receive remuneration from the concern, then the remuneration for both will be credited to the spouse whose total income before including such remuneration is greater.
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