Income from assets transferred to the spouse - Section 64(1)(iv)

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..... live apart. Income from such asset shall be clubbed (taxable) in the hands of transferor The relationship must exist both at the time of transfer of asset and at the time when income accrues. Section 64(1)(iv) applies to all assets except House property. This provision is not applicable to house property because in that case the transferor is deemed to be the owner of the house property and the a .....

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