Clubbing of income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 August 2012
A GIFT MADE BY A RESIDENT ASSESSEE HAVING AN INCOME BELOW THE BASIC EXEMPTION LIMIT. THE GIFT WAS MADE TO THE ASSESSEE'S SON'S WIFE.WIFE ALSO HAVING THE INCOME BELOW BASIC EXEPMTION LIMIT..WILL THE GIFT MADE BY CHEQUE BE CLUBBED IN ASSESSEE'S INCOME..?
Amol S Joglekar
(Expert)
02 August 2012
Gift to relative does not come under the perview if income tax. So no question of clubbing.
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