Clubbing of income under shares
This query is : Resolved
21 August 2023
Can a mother in law gift shares to daughter in law, and if yes then dividend rec'd on those shares will be taxed under mother in law's income as per clubbing provisions but AIS will show income in daughter in law's name, how to deal with that so that there is no double taxation and there is no problem in future, kindly help.
Thanks in advance
Thanks in advance
21 January 2024
Yes taking gift from mother-in-law is covered as an exemption. However take care of clubbing provisions in case gift is made to daughter in law.
Shares also need to be transferred in the records of the registrar in her name for dividends
Shares also need to be transferred in the records of the registrar in her name for dividends
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