Clubbing provisions
This query is : Resolved
05 July 2012
Mother received a 'sum of money' (as gift) from her Son.,,,It is clear that the sum received by mother is not taxable in her hands...,
My doubt starts ..:
suppose, with the money recieved.,she constructed a house......Now..,the rental income from such house is taxable in her hands or in the hands of 'son'.. ????????
My doubt starts ..:
suppose, with the money recieved.,she constructed a house......Now..,the rental income from such house is taxable in her hands or in the hands of 'son'.. ????????
05 July 2012
Clubbing provisions DO NOT apply when any asset is gifted by an individual to his parents.
Section 64, which deals with the provisions of clubbing DOES NOT contain any such situation.
Accordingly, in this case the rental income shall be taxable in the hands of the mother only and shall NOT be clubbed in the hands of the son.
Section 64, which deals with the provisions of clubbing DOES NOT contain any such situation.
Accordingly, in this case the rental income shall be taxable in the hands of the mother only and shall NOT be clubbed in the hands of the son.
06 July 2012
thanQ Mr.Bhardwaj :)
09 July 2012
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