AAFM Exam CTEP Topic 2 Question 63 Discussion

Actual exam question for AAFM's CTEP exam

Question #: 63
Topic #: 2

[All CTEP Questions]

Vikrant Juneja gifted his house property to his wife in year 2007. Mrs. Juneja then lets out this house @ Rs. 5000 per month. The income from such house property will be taxable in the hands of:

AMrs. Juneja

BVikrant. However income will be computed first as Mrs. Juneja's income and thereafter clubbed in the income of Manish.

CVikrant, as he will treated as deemed owner & liable to pay tax

DAnyone amongst both of them, whose income is greater.

Show Suggested Answer

Suggested Answer: C

by Dell at Apr 05, 2025, 09:15 PM

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Lindsey

2 days ago

But what if Vikrant is treated as the deemed owner? Would the income still be taxable in Mrs. Juneja's hands?

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Cordelia

6 days ago

I agree with Dick. Mrs. Juneja received the gift of the house property, so the income should be taxable in her hands.

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Skye

6 days ago

D makes the most sense to me. The income should be taxed in the hands of whichever spouse has the higher total income.

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Dick

8 days ago

I think the income will be taxable in the hands of Mrs. Juneja.

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Wava

13 days ago

I think the answer is A. Mrs. Juneja should be taxed on the rental income, since the property was gifted to her.

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