banner_ad

gift of 20 lakhs from husband to buy immovable propert

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
11 November 2017 buying immovable property worth 20 lakhs by accepting gift of 20lakhs from husband,am i liable to pay tax on Rs.20 lakhs.
If not, what precautions i have to take before accepting the above gift from husband
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
11 November 2017 Not liable to pay any tax on such gift. Income if any earned from the house is taxable in the hands of husband. Recive the gift amount through bank account.
Profile Image

ASHPAK ALI

Profile Image

ASHPAK ALI (Expert)
11 November 2017 So, if a wife receives a house as a gift from her husband, the gift will not be taxable as income in her hands. However, if she lets out the house and earns rental income, such income, instead of being taxed as her own income, will be clubbed with the income of her husband and taxed as his income. A similar treatment will apply to any capital gains she earns from the sale of the house.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
ARTICLESHIP 05 May 2026
ARTICLED ASSISTANT

JS ADVISORS

New Delhi

CA Inter

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details