Maternal uncle wants to gift home

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 November 2014 Dear experts ,

My Maternal uncle wants to gift his home to me . If i receive that gift and use that gift for renting purpose , then will that income club in my maternal uncle income or in my income ?

If it will add in my maternal uncle income then show me some way so that it must add in my income ...

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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21 November 2014 Such transaction is NOT covered by Section 64 (clubbing of income). Accordingly the income from the house will be taxable in your hands & NOT in the hands of your uncle.