TMI BlogSec. 269 SSX X X X Extracts X X X X X X X X Extracts X X X X ..... Whether payments by Husband to contractors doing carpentry and other work in house built by wife attracts Section 269SS These are repaid by waife after a year. Both husband and wife are assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. Sathya - Reply By GOPALJI AGRAWAL - The Reply = The transaction would of course fall within the provisions of section 269SS unless accounted for as drawings. - Reply By sathyanarayanan kasina ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... than - The Reply = Yes it is accounted for as drawings in husbands books. - Reply By MOHAN S - The Reply = The reply depends on how the transaction is accounted by the wife in her books. If the wif ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e decide treats this as a "Loan from her husnand" then the posiibility of the Assessing Oficer invoking Section 269 SS of I.T Act is there. However, if the payments are made by the husband directly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the contractor then one can certainly argue that there is no acceptance of "deposit" or "loan" by the assessee in cash (which is the primary criterian for invoking Sec269SS). - Sec. 269 SS - Q ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uery Started By: - sathyanarayanan kasinathan Dated:- 22-7-2011 Income Tax - Got 3 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Manageme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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