I have been in continuous employment. My wife and I have been NRIs continuously since 1992 My wife has income from tuitions for many years. She has done graduation. Both of us hold Either or Survivor NRE accounts in India. I have remitted funds periodically to these joint NRE accounts including my wife's income. We jointly purchased 2 residential flats in Delhi, in 1995 and the second in 2010 from joint NRE accounts. One flat is occupied for ourselves and other flat is rented out. Based on the above facts, will the transfer of funds from me to my wife be considered her own funds and not as a gift from me to her as the source of funds is from abroad remitted into a joint NRE account. Therefore will the income from residential house property, paid for from our joint NRE account, be outside the purview of clubbing section 64.
Jan. 08, 2018