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Capital gain urgent query-Property in wife name

This query is : Resolved 
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(Querist)
06 September 2024 A husband wants to gift Rs.20 Lakhs to his wife to purchase a property in its wife's name....what are the tax implications?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
06 September 2024 No tax implications.
Gift to wife exempt from tax but clubbing provisions applicable on any income from gift.
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CA Parul Saxena

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CA Parul Saxena (Querist)
07 September 2024 I want to ask husband is supposed to pay tax on capital gain?as he has not purchased property from capital gain..
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
07 September 2024 Capital gains of wife will be clubbed with husband's income.
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