This question was asked in Asset transferred to spouse
A proprietary business was started by Smt. Rani in the year 2013. As on 1.4.2014 her capital in business was Rs 3,00,000. Her husband gifted Rs 2,00,000 on 10.4.2014, which amount Smt. Rani invested in her business on the same date. Smt. Rani earned profits from her proprietory business for the Financial year 2014-2015, Rs 1,50,000 and Financial year 2015-16 Rs 3,90,000. Compute the income, to be clubbed in the hands of Rani‟s husband for the Assessment year 2016-17 with reasons
