Come here.
See, he is doing the same thing.
Salary received will be Rs. 360,000.
Standard deduction will be Rs. 50,000.
Income will be Rs. 3,10,000.
And this income will be clubbed in whose hands?
In Mr. A's hands.
Mr. A's other income is Rs. 7,00,000.
So, total will be Rs. 10,00,000.
Now he is asking, does it make any difference in your
answer if you had this information that Mrs.
A was qualified for the job?
Does it make any difference in your answer?
Absolutely.
If she was qualified for the job, in that case, income
would not be clubbed.
In that case, when Mrs.
A herself is so capable, herself is so qualified, that she
can easily get that job, then what is the need of clubbing
the income?
She herself is so capable that she should pay her own
income tax.
In that case, clubbing the income of some other person is
not a requirement at all.
This is her answer.
These are some of the illustrations that we can see.
They are quite similar.
I have made the basics do it.
I had read that last point.
That income arising to the spouse to the spouse from asset
transferred without adequate consideration.
Bachchan sahab ne ka kaam kara, rental khud na receive
karke Jaya madam ke hands mein cheque banwa diya.
Kiraydaar ko bola ki, bete kaam karo, cheque banaoge kiraya
ka, to Jaya madam ke hands, jaya madam ka naam de dena
cheque pe, to theek hai.
Faseka kyu? Fas is wale se sakte hai, ki bhai property
kiski hai Bachchan sahab ki, to cheque Jaya madam ko kyun
jaa rahe hain? Income tax officer question karega, kyu je
property Bachchan sahab aapki hai, property aapki hai,
malikana haq aapke paas hai, to unko cheque kyun jaa rahe
hain? Bachchan sahab is question se bachne ke liye kya
karenge, property transfer karding hai Jaya madam ko, taaki
kal ko koi ye na bol sage ki bhaiya cheque unke naam pe
kyun jaa rahe hain? Aap Bachchan sahab
jaa ke bolne ki, bhai dekho, jao pehle us officer ko pakad
ke leke aao, jisne transfer nahi dekha, kyunki main to
transfer kar chuka hoon.
Bhai rental agar unke paas aa raha hai, to rental isi wajah
se aa raha hai, ki ab wahe property Jaya madam ke naam pe
transfer ho chuki hai.
Lekin abhi bhi wo officer wala tej hai, usne kagas dekhe,
dekhe, dekhe aur usko yeh malum padh gaya ki bhaiya sahab
yeh jo aapne transfer kar raha hai na, yeh aim hi kar diya,
bina paise liye hue.
Without consideration aapne transfer kar diya hai.
Us case mein income jo hai, 5 lakh ki aapne ek tarah se
divert kar di, ghumane ki koshish to aapne bahut kheli,
game to bahut solid khela bachchan sahab aapne, bahut solid
game khela aapne.
Income divert kar di, kiraya
Jaya madam ke naam pe kar diya aur pakde na jao isliye
property ke kagaj bhi unni ke naam pe kar diye.
Lekin sahab aap, wo kehte hai na ki bade se bada mujrim bhi
ek na ek suraag chod jata hai, bade se bada katil bhi koi
na koi chota sa ek saboot chod jata hai.
Aapse bhi bhi galti ho gayi.
Aapne property ke kagaj transfer to kar di lekin paise ka
koi lehne nahi hua.
Without consideration transfer ho gayi.
Is case mein to yeh income wapit se aapke hands mein club
ho jayegi sahab.
Yeh point aao.
Transfer of the asset, where there is a transfer of the
asset, directly indirectly, yeh other than house property
ki baat kar raha hai.
House property ki baat aa jati hai section 27 mein.
Yaha pe aa jayegi.
Abhi philal isko samajh lo ki aapne FD ka transfer kar diya.
Aapke baas koi FD hai 10-20 crore ki.
Aapne wo FD transfer kar di.
Bachchan sahab ne FD transfer kar di, Jaya madam ke naam pe.
Ki bhai is FD ka jo biyaaj aayega, wo Jaya madam ko milta
raha hai.
FD ka biyaaj
Jaya madam ko milta raha hai.
Transfer kar di mene.
Lekin transfer kyun kari? Transfer kari hogi toh badlne
mein koi consideration bhi toh mila hoga.
Koi services bhi toh di hongi Jaya madam ne aapko.
Kisi cheez ka consideration toh hoga.
Agar kisi cheez ka koi consideration hai hi nahi, without
consideration aap transfer kar ro, toh sahab uss case mein
uss FD ka jo bhi biyaaj rahega, uss asset se aap jo bhi
income kamaoge, wo aapke hands mein club ho jayegi.
Yeh hi keh raha hai point.
Where there is a transfer of asset directly or indirectly
from one spouse to the other without adequate consideration
ya phir otherwise then in connection with the agreement to
live apart.
Saab kya matlab iss laal wali line ka.
Otherwise then in an agreement to live apart.
Saab yeh toh abhi husband wife ka ek rishta hai.
Maan lo kal ko yeh rishta nahi rehta.
Husband kehta hai ki talak talak talak.
Main aaj se tere saath nahi rehunga.
Uss case mein bhi kya mein clubbing ke provisions apply
hone chahiye.
Mera talak ho gaya hai aur main kuch assets apni ex-wife ke
naam pe kar diye hain.
Varnraj Shah ne koi assets Anupama ke naam pe kar diye hain.
Kya uss case mein bhi koi, uss case sir yeh kis ka example
dero.
Beta example main wo deta ho jo connect kar jao.
Varnraj ne koi assets Anupama ke naam pe kar diye hain.
Talak ho chuka hai.
Agreement to live apart.
Saab uss case mein bhi clubbing ke provisions apply ho
jayenge.
Varnraj apna sir bheed laga jaake ki saalon mera ko aisi
parichan kar rakha tumne.
Upar se aur mera upar clubbing kar di tumne.
Aau zara.
Where there is transfer of the asset directly or indirectly
from one spouse to the other without consideration.
Yeh dosto yeh bahut zaruri point hai ki without adequate
consideration.
Proper consideration proper mil gayi.
Genuinely transaction hai.
Vahke mein aapse aapki wife ne wo property kharid li.
Koi asset kharid li aapse.
Aur bakayada uski poori keemat de ke kharid hai.
Toh uss case mein clubbing ke provisions toh apply nahi
honge.
Clubbing ke provisions hamse main apply hote hain jahaan.
Consideration poori na ho.
Adequate consideration na ho.
Without adequate consideration.
Yeh otherwise then in connection with agreement to live
apart.
Toh any income arising to the transferree spouse from the
transferred asset directly or indirectly shall be included
in the total income of the transferrer.
Transferrer ki income mein club karli jayegi wo.
Toh chahe Bachchan sahab ho chahe Varnraj sahab ho dono ki
hi income mein wo add karli jayega.
Kya? Asset.
Asset add nahi kiya jayega.
Us asset se jo aap income derive kar rahe ho.
Wo club karli jayega.
Transfer of the house property.
Yeh wala jo humne padha hai abhi tak ki house property ke
alawa hai.
House property wala yahan hai.
Ki if an individual transfer karta hai house property to
the spouse without adequate consideration or otherwise then
in connection with an agreement to live apart.
Toh transferrer shall be deemed to be the owner of the
house property.
Clear hai point? Koi alag baat toh nahi padha hi maine.
Theek hai saab? Ab dekho ek naya nirala point.
Transferred asset invested in the business.
Aapke paas koi asset hai.
Jaise us case mein Anupama madam ke paas koi asset aaya.
Yaar Jaya madam ke paas koi asset aaya.
Unhone kya kaam kara? Jaise asset abhi toh hum house
property ko lege chal rahe hain.
Lekin for example assets toh koi bhi hai.
FD bhi ho sakti hai.
Toh for example 10 crore rupee ki FD.
10 crore ki FD ka transfer ho jata hai.
Aur FD pe hai 6% ka bhyaj.
10 crore ki FD transfer kar di Bachchan saab ne
Jaya madam ko.
Without consideration transfer kar di.
Pehle toh jo main pooch raha hu uska jawab do.
Case samjho pehle.
10 crore ki FD hai.
Bachchan saab ne without consideration transfer kar di Jaya
madam ko.
Abhi tak koi dikkat hai? Koi dikkat nahi hai.
Problem yeh hai.
10 crore ki FD hai.
6 taka ka bhyaj hai.
60 lakh rupee ho gaya hai bhyaj ek saal ka.
Bhyaj receive kar liya hai Jaya madam ne.
Ab batao jara.
Ab koi dikkat hai kya? Haanji saab ab dikkat hai.
60 lakh rupee ka jo bhyaj hai wo Jaya madam ki income mein
mat dikhana.
Wo kis ki income mein club ho jayega? Wo Bachchan saab ki
income mein jaake club ho jayega.
Kyun club ho jayega? Kyunki without consideration, without
consideration, without consideration transfer hua hai.
Ab isko, is case ko thoda aage leke chalte hain.
Case yeh hai ki Jaya madam ke mann mein yeh khayal aaye ki
mere husband itna kaam karte hain, itne paise kamaate hain.
Kyun na mai bhi inka thoda saa haath bataun.
Kande se kanda mila ke inke saath paise kamaun.
Kyun na mai ek naya business khol loon.
To Jaya madam ke paas wo 10 crore rupee aaye.
10 crore rupee madam ke paas aaye aur unhone wo 10 crore
rupee me se 6 crore rupee
I have invested in a new start-up.
People came to him for fund and he said,
I will give you a cheque of 6 crores.
I have a FD of 10 crores.
From that FD of 10 crores,
I will give you 6 crores as an investment.
I said, okay.
Now I got 6 crores as an investment.
And that cheque of Jaya madam was so lucky.
She got a profit of 1 crore.
The year ended.
When there was a profit, her share of 1 crore came out.
Okay, no problem.
It's a very good thing.
I invested 6 crores.
I got a profit of 1 crore.
Sir, try to understand the case.
Would Jaya madam have been able to give an investment of 6
crores if Mr.
Bachchan had not transferred Rs.
10 crores to her?
Think deeply about the answer to this question.
Would Jaya madam have been able to give an investment of 6
crores if Mr.
Bachchan had not transferred Rs.
10 crores to her?
Answer is no.
Why was she able to give?
She was able to give because she had received an asset
without any consideration.
So, the profit that will be generated from there, that
profit will have to be clubbed in Mr.
Bachchan's income.
Because the reason is that it is Mr. Bachchan's money that
is being circulated in the market.
It is Mr. Bachchan's money.
First, to divert the income, Jaya madam was given the money.
Jaya madam invested it further.
Ultimately, it will be assumed that it was Mr. Bachchan's
investment.
So, in that case, pay attention to how the tax will be
imposed on it.
First, calculate the profit.
How much profit has been generated from that business?
Out of that, the amount of the transferred asset invested
on the first day of the previous year and total investment
on the first day.
For example, the share of Rs. 1 crore has been transferred.
Assume that the profit of the entire business was Rs. 3
crores.
Rs. 3 crores was the profit of the entire business.
And the capital of the entire business was Rs. 10 crores.
And Jaya madam invested Rs. 6 crores.
So, in this case, Rs. 1.8 crores will be taxable in Mr.
Bachchan's hands.
Isn't this a solid point?
Mr. Bachchan gave a cheque to divert the income.
He transferred the asset, i.e.
FD, to Jaya madam so that the interest of FD is not taxable
in her own income.
It should be in Jaya madam's income.
Jaya madam invested Rs. 6 crores in the business out of Rs.
10 crores of FD.
The business got a profit.
The share of Jaya madam from that profit, i.e.
the amount of her share, after doing this pro-rata
calculation, will be clubbed in Mr.
Bachchan's income.
This is the point, sir.
Please read what it says.
Where the asset transferred directly or indirectly by the
individual to the spouse are invested by the transferee.
Proportionate income arising to the transferee from such
investment is to be included in the income of the
transferer.
Simple as that.
Is the point clear?
Come on.
This is the point, sir.
Please see the illustration of this in your homework.
Last point.
Transfer of the assets for the benefit of the spouse.
So far, we have seen two points.
First, you are giving remuneration to the spouse.
Second, you are transferring the assets without
consideration.
Now, the third point.
The third point is that I don't transfer any asset to the
spouse.
This is very tricky.
Mr. Bachchan said, leave this.
Let's end this.
I transfer the assets to the spouse without consideration.
This is also tricky.
He invests in the business.
Earning profit from there.
That is also being added to my income.
Leave it. End this point here.
Mr. Bachchan, you have joined your hands.
These clubbing provisions are proving to be lethal and
dangerous on me.
I will be accused severely.
Let's leave this here.
Mr. Bachchan did not leave this chapter of clubbing.
Now, Mr. Bachchan left this chapter.
So, we have a very intelligent character.
Mr. Jethalal.
Mr. Jethalal has come.
He says, the work that Mr.
Bachchan could not do from you,
Jethalal will do that work.
Owner of Gada Electronics.
He said, ultimately, I need income from my wife.
I have to divert the income from my wife's hands.
Fine.
I will give an asset to Sundar Veera.
Whatever income will come from that asset,
I will tell Sundar Veera to transfer it to my wife.
Or take it for my wife's benefit.
Look at this.
After taking this provision, look at his face.
Mr. Jethalal's face.
Look at this. They have become friends.
They do not understand what is happening.
And there, their sighting is going on.
Son, I will give you an asset.
Whatever income you will receive from that asset, give that
income to Daya.
Your exemption is in the limit.
You do not have any income anyway.
You are a zero income person.
Your exemption limit is up to 5 lakhs.
So, whatever is your income up to 5 lakhs, transfer it to
Daya as it is.
So, what will happen in that case?
In that case, our Nirmala madam will say,
Fine.
We have not worn bangles in our hands.
Come here.
What provision has she taken for that?
She has taken that all the income arising directly or
indirectly to any person from the asset transferred.
Who is the person in this case? Sundar.
From the assets transferred, directly or indirectly, to
such person, by the individual, without adequate
consideration, is included in the income of the individual.
It is a simple thing.
In that case also, it will be added to Jethalal's income.
Is the point clear?
Is the point clear, friends?
The chapter has been completed more than 50%.
Today, we have not covered much.
We have given a reading.
And those three points, which I explained to you in the
last lecture,
I did a recap of those.
And gave a reading of those.
Next, there is nothing left.
Same topics, same repetition.
Exactly the same ditto.
Clubbing of the income arising to the son's wife.
Exactly the same ditto.
Without consideration, or you have invested in the business.
Exactly the same ditto.
Same ditto provisions.
That's it.
Take a 5-minute break.
We will meet in the next lecture.
Let's finish this.
Bye.