Clubbing
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 July 2012
if son transfers his income to his parents than whether clubbing provision apply???
can he be exempted from clubbing if gift deed is prepared and transfer become irrevocable??
can he be exempted from clubbing if gift deed is prepared and transfer become irrevocable??
12 July 2012
Clubbing provisions DO NOT apply when an individual gifts an asset to his parents and the parents earn income from such asset.
Income from such asset is taxable in the hands of the parents.
Income from such asset is taxable in the hands of the parents.
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 July 2012
for transferring assets is gift deed is required??
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