This Query has 1 replies
64(1)(vi) Daughter-in-law
Sir
Can income from assets transferred to Daughter-in-law without adequate consideration be clubbed under section 64(1)(vi) with the income of transferor- i.e., father-in-law/mother-in-law?
Sir
As per section 64(1)(iv), if an individual transfers (directly or indirectly) his/her asset (other than house property) to his or her spouse otherwise than for adequate consideration, then income from such asset will be clubbed with the income of the individual (i.e., transferor). Income from transfer of house property without adequate consideration will also attract clubbing provisions, however, in such a case clubbing will be done as per section 27 and not under section 64(1)(iv).
Further can income from house property transferred to Daughter-in-law without adequate consideration be clubbed as per section 27 and not under section 64(1)(vi). with the income of transferor- i.e., father-in-law/mother-in-law (as allowed in section 64(1)(iv))?
Regards
K M Goyal
This Query has 5 replies
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Dear experts,
For FY 24-25 , any gains arising from sale of Gold and silver ETF is subject to capital gains or as per slab rate?
for FY 25-26 it is as per slab rate however not clear about FY 24-25
Pls advice
Regards,
Live Course on EPF & ESI Act - Mastercourse(With Govt Certificate)
Income from assets transferred to Daughter-in-law WAC be clubbed under sec 64(1)(vi)