Income Tax: Only 1 house can be declared as self-occupied by husband and wife as joint owners – Suraj Nangia
With the Modi government tightening its noose on tax evaders, there has been a tremendous rise in the number of prosecutions initiated by the income tax department. Taxpayers are receiving notices requiring them to furnish details of transactions. The government is gearing up for stricter enforcement, especially in cases where there is wilful attempt to evade taxes or penalty.
- Suraj Nangia, Partner answers the queries with regard to personal tax for Financial Express