Clubbing of income
This query is : Resolved
Kunal Verasinghani
(Querist)
01 March 2014
If I m giving 25lacs rupees to my sister as a gift,and she is adult(above 18 yrs. whether the interest on 25lac will be taxable under my hand or her. please reply
03 March 2014
Clubbing is NOT applicable when asset is transferred to sister.
03 March 2014
as per expl to sec 56(2) sister is considered as relatives hence no tax is payable on this gift.
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