What is the money a man gives to his wife called?
What is the money a man gives to his wife called?
Originally Answered: What do we call the money a husband gives to his wife? Divorce: Alimony.
Is gift given by husband to wife taxable?
The amount received by a wife as a gift will be tax-free in her hands. One cannot use a financial gift effectively to save tax. The amount received by a wife as a gift will be tax-free in her hands. Sudeep is a marketing professional with an annual income of Rs 10 lakh.
Can I transfer my demat account to my wife?
Yes, you can transfer shares from any account to your account by giving off-market delivery instructions slip to holders DP. There are some minimum charges to transfer the shares.
Can you pay your wife a salary?
By paying your spouse a regular wage you can claim it as a tax deduction for your business, making it a great way to split your income. Yes, you’ll have to deal with the complexities of fringe benefits, but it could give you an income tax and GST benefit.
Can husband claim wife’s LIC premium?
Yes, spouse and children insurance premiums can be considered for claiming exemption under 80C of Income Tax Act. Insurance premium for children till the age of 23, parents can claim tax saving under 80 C.
