Gift of sale proceeds of a capital asset received by a lady to her father in law
siddharth agrawal (Student CA Final ) (29 Points)
30 July 2016siddharth agrawal (Student CA Final ) (29 Points)
30 July 2016
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160292 Points)
Replied 03 August 2016
Clubbing provisions under sec 64(1) (vi) are attracted when an asset is transferred to daughter-in-law for inadequate consideration. Transfer by daughter-in-law to her parents-in-law does not attract clubbing provisions