u/s 56(2)(vii) gift to relative ie,wife is non taxable . some people tell that income from that gift will be clubbed to huband account is this correct, if correct can u tell the correct section under which this income will be clubbed
u/s 56(2)(vii) gift to relative ie,wife is non taxable . some people tell that income from that gift will be clubbed to huband account is this correct, if correct can u tell the correct section under which this income will be clubbed
Income will be clubbed under section 64 of income tax act 1961
The relevant Section for your Query is 64......
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