CLUBBING
This query is : Resolved
26 July 2008
WHAT R CLUBBING EFFECTS IN CASE OF GIFTS BETWEEN
1. HUSBAND & WIFE
2. FATHER & DAUGHTER
3. GRANDMOTHER & GRANDSON/GRANDDAUGHTER
1. HUSBAND & WIFE
2. FATHER & DAUGHTER
3. GRANDMOTHER & GRANDSON/GRANDDAUGHTER
28 July 2008
In the case of transfer of an asset from husband to wife without adequate consideration, any income from such asset will be deemed as the income of the individual. In other cases it will not be so.
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