Love can be dangerous in personal finance: Wife gets income tax notice for husbands’ Rs 6.75 crore house purchase

The Bombay High Court relieved a wife from a tax evasion notice related to a Rs 6.75-crore property, as her husband solely funded the purchase, adding her name for convenience. The court emphasized that tax authorities must verify the actual source of funds, protecting nominal joint owners from unwarranted scrutiny. Read more.

from Tax-Wealth-Economic Times https://ift.tt/vlQPWMA