Wealth tax
Divya (Studeny) (379 Points)
13 May 2014
A gifts Mrs B(brother's wife) motor car nd Mr B gifts Mrs A jewellery.In whose wealth r these assets 2 b counted?.
CA SACHIN SAINI
(N.A)
(85 Points)
Replied 13 May 2014
As per my Understanding :
Since clubbing provisions are not getting attracted so accordingly both the assets are going to be assessable under wealth tax in the hands of recepient in their own independent capacity..i.e. Motor Car in the hands of Mrs.B and Jewellery in the hands of Mrs A.
But you consult with others also.
| Originally posted by : Divya | ||
 |
A gifts Mrs B(brother's wife) motor car nd Mr B gifts Mrs A jewellery.In whose wealth r these assets 2 b counted?. |  |
CAclubindia
