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