Question: Can I Invest In My Wife Name?

Can I transfer mutual funds to my wife?

Units of a mutual fund cannot be transferred from one holder to another, nor can they be gifted by one person to another.

Mutual funds are also not allowed to accept ‘third-party’ payments—meaning, you cannot use money from your wife’s bank account to make investments in your name..

Can I transfer my demat account to another person?

Demat units can be transferred from one person’s demat account to another person’s demat account within the same depository participant (DP). This is called an off-market instruction, as it is date specific and not settlement specific.

Can husband give interest free to wife?

Now, while gift-tax has been abolished but the income from any gifts made to his wife is to be included in the income of the husband under the provisions of Section 64(1) of the Income Tax Act. … He may give that money as loan to his wife and charge a rate of interest, which should not be lower than 8%.

Can you hire your wife?

Hiring your spouse As a sole proprietor, you can hire your spouse to be an employee. But, your spouse must be a legitimate employee. … If your spouse is your employee, their wages are not subject to federal unemployment tax (FUTA tax). However, their wages are still subject to federal income and FICA taxes.

Is oil a good investment?

Crude oil prices could rise over the medium term due to the recovery in global oil demand. … Since oil stocks may remain volatile in the near term, investors should cautiously build their positions in oil stocks. Over the long term, global crude oil demand will likely fall amid the shift to electric vehicles.

How do you transfer shares in case of death?

Procedure to change name on Physical Shares of a DeceasedPhysical Share Certificates.Death Certificate of the Deceased.PAN Card of the Successor.Transmission Request Form.Attested Signatures by Banker of the Successor.Proof of Address of the Successor.Any other document as required by the Company.

How do I transfer shares from father to son?

Yeah, you’ve mentioned both the options:Change share certificate to your name and then dematerialize to your Demat. Steps as you’ve mentioned.Open Demat in dad’s name, dematerialize into his Demat and then have the shares transferred to your Demat using DIS. You can avoid the RTA process.

Can I give my wife money?

Making things regular The regularity of gifts, and where that money comes from, also affects how much you can give. As long as you make a gift from your taxed income (i.e. not your savings) they may be exempt from tax if they are: Maintenance paid to your wife, husband or civil partner (including that paid to exes).

Can I pay salary to my wife in India?

The amount paid by you to your wife can be considered as gift which shall not attract income tax under the provisions of Income-Tax Act, 1961. My wife has a salary income of Rs 10 lakh a year on which she pays tax. Apart from that, I deposit Rs 25,000 every month into her account from my account for household expenses.

Can husband deposit in wife PPF?

Ankur Choudhary, Co-Founder and CIO, Goalwise replies: “Yes, your wife can have a PPF account in her name and you can invest Rs 1.5 lakh on her behalf. Under the income tax laws, income from money given to a spouse is clubbed with the income of the giver.

What is the best oil stock to buy now?

Oil stocks to buy as crude prices plummet:Exxon Mobil Corp. (XOM)Chevron Corp. (CVX)Apache Corp. (APA)Noble Energy (NBL)Devon Energy Corp. (DVN)Marathon Petroleum Corp. (MPC)Phillips 66 (PSX)

How do I transfer shares from parent to child?

If the stock is in certificate form, you’ll merely go to your child’s bank or your own brokerage and sign the stock in the presence of someone serving as a guarantor. Look on the back of the certificate to see if there is a form to complete in order to transfer the stock and check with the bank before filling it out.

How do I transfer shares to a family member?

Shares owned by a person can be gifted to another person (relative or otherwise) by following a certain procedure. Since gifting constitutes a transfer, and the transfer is for no consideration, such a transfer can be carried out using the “off market transfer” mechanism.

Can I transfer my demat account to my wife?

Yes, you can transfer shares from any account to your account by giving off-market delivery instructions slip to holders DP. There are some minimum charges to transfer the shares.

Can I transfer money to my wife’s account in India?

Yes, it may sound strange but you can save taxes by transferring money to your wife’s account! … However, if she saves some amount from the money gifted by you for personal expenses and deposits the same in bank and earns interest on the same , then such interest income will be clubbed with your income.

How much money can be gifted to wife in India?

Gifts up to Rs 50,000 per annum are exempt from tax in India. In addition, gifts from specific relatives like parents, spouse and siblings are also exempt from tax.

Can we have 2 demat accounts?

Can multiple demat accounts be opened? Yes, you can open more than one account at the same name either with same or different Depository Participants (DP). An investor has to fill the KYC form every time he opens a new account.

Can husband give gift to his wife?

In other words, he can gift whatever he wants out of this post-tax income. His wife will, however, not be taxed on the receipt of a gift from her husband, who falls under the specified list of ‘relatives’ who are exempt under the Income Tax Act. … The amount received by his wife as a gift will be tax-free in her hands.

What is the best way to invest in oil?

Invest in oil futures This is the most direct way to purchase the commodity without literally purchasing barrels of oil. With the traditional method of futures trading, you buy a contract to purchase oil at a future date at a specified price, which you can in turn sell.

Can I open demat account in my wife name?

No. You cannot show profit/loss from your wife’s demat account in you ITR. However, due to clubbing provisions, if you had invested money under your wife’s name and earning taxable income from that investment, then that income would be clubbed with your income and you would need to pay tax on it.

How can I invest in oil with little money?

How to invest in oil with little money and without buying oil at allTrade oil futures. Considered one of the most direct ways of trading commodities without buying actual barrels, future contacts are purchased through commodity brokers. … Trade oil CFDs. … Invest in oil shares. … Trade oil ETFs. … Trade oil MLPs.