Clubbing of income generated from gifts received from relati

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 February 2017 Sir,
I want to know whether gifts received from father by major child would attract clubbing provisions and also on gifts received from brother in law.
Further would it be beneficial for a lady to accept gift from father in law and invest it in property.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 February 2017 No clubbing provisions applicable on such gifts. Clubbing provisions applicable only in case of asset transfer to daughter in law.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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21 February 2017 If a lady accepts gift from father in law and invests in property and earns income on it such as rental income then the same will be clubbed with the income of her father in law.

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