Clubbing provision

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 February 2015 Dear Experts,

If a married daughter gifts Rs. 5 lac by cash to her mother, then it will not taxed in hand of her mother.
now my question is in that case clubbing provision will apply or not?
Meaning thereby if her mother invest that money anywhere then income earned on will be taxed in hand of daughter or her mother?

Please explain by quoting relevant section.

Thanks.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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20 February 2015 1.no

2. taxable in hands of mother only such int earned.

Querist : Anonymous

Querist : Anonymous (Querist)

20 February 2015 Thanks so much

can you please quote relevant section.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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20 February 2015 refer sec 56(2) and explanation to section56(2) for definition of relatives.

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Querist : Anonymous

Querist : Anonymous (Querist)

20 February 2015 ok thanks, but i m asking about clubbing provision section. means why will it not be covered in clubbing provision.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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20 February 2015 since there is no provisions for mother and duaghter clubbing income in present income tax act

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