Senior Software Engineer

How can we save tax by using housewife if we fall under 30% slab. Practical suggestion required which are well used. Like how much we can transfer to wife for he expenses which she can do fd Or invest in mutual fund etc.and income clubbing provision is not applied. Thanks

3
  1. Consultant 1

    Using housewife?

    8
    Consultant 1

    SE1: It is definitely possible and allowed by the law and several people do that. House should be under wife's name. Read the court's judgement https://taxguru.in/income-tax/hra-deduction-rent-paid-wife-qualifies-section-1013a.html#:~:text=ITO%2C%20has%20upheld%20that%20the,similar%20cases%20in%20the%20future.

  2. Senior Software Engineer 2

    You cannot cut taxes if it is credited to your account. If you can somehow convince company to credit your salary to your wife's account, then you can show that under your wife's income.

    1
    Data Engineer 1

    Don’t do that, it’s illegal for the company to do so.

    1