My wife intends to promote a Guest Hosting business in an apartment in Kolkata, which is owned by me in my name. As I am not in a position to afford higher slab of income tax, my wife is interested to do the business, of course for which I'll extend my all possible assistance.
The income tax liability for the income out of the hosting business, needs to be computed for the I.T. calcualtion and filing of my wife, and obviously not on me. Is there any legal way out to make such an initiative possible, without violation of Government and income tax laws.
Kindly favour me with your kind guidance with the.legal formalities, if any to be followed.