Hi Ma'am . Just to ask that if both husband and wife are working and earning equally.Should they also contribute equally in expenses

Mediclaim insurance Rs 75000. Should divide equally between couple?

Mediclaim insurance Rs 75000. Can be equally between the couple?

Can I pay my wife allowance or salary for services like cooking, rent etc., and claim IT exemption? I have heard cases where son pays rent to his father and claims exemption. Does the same works for husband and wife? Can you suggest some ways tax can be saved, other than hom lo

Hi Anu, I'm married since 5 years now and having loving In-Laws who are financially very well to do. My husband and I earn very less as compared to my in-laws, with whom we stay. My husband is 37 years old and earns 47000 INR a month, out of which he saves 35000 INR (in-laws have told him not to spend on house expense, but instead save). The rest 12000 INR he has for himself. I am also working and all my earning is with me. The problem is that he usually ends up spending almost all of the 12K. This angers me as I feel he should focus on saving as much as possible from that. We have an understanding among us that the expense for enjoyment will be borne by me as his major chunk is being saved for "Our" future. Am I wrong to be upset with his spending?

I do not own a house; living in heart of metro city for over 50 years; I am retired, and with no family or financial (loan/EMI) commitment. I do not prefer retirement or living assist pay home available for senior citizen where I may lose my independance and choice of my life. I have given declaration for donation of organs after my death; also I have declared donation of my body to medical college to save creamation expenses and procedure, by not disturbing the others Being a self dependant, I allocate my income, 20% for rent; 15% for food expenses 10% for medical emergency (I have no health issues, not even a diabetic and blood pressure) though my annual medical expenses is ZERO. 25% for travel/Trek (I fond of travelling and exposing to trekking spot like travelling to Himalayas - Rishikesh every year for the laslt 27 years) 15% for local conveyance (like petrol etc)5% for emergency; 5% for insurance premium commitments; 5% for others including donation and pooja etc. anything unutlised is for saving where I donot require to accumulate saving or investment , as it does not require for me to leave a legacy. Please advise, do I need to re-allocate the ratio; all the time we are asking for income and investment, and I am placing this question on expenditure. Though I can understand the expenditure pattern changes according to the taste of the people; and life style; we do not have thumb rule and I request you to kindly suggest if anything is missed out or re-allocate the percentage.