Clubbing provisions
This query is : Resolved
Pankaj Bajaj
(Querist)
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.
Pankaj Bajaj
(Querist)
06 July 2012
thanQ Mr.Bhardwaj :)
09 July 2012
You are welcome. You should use the thanks button to convey your thanks.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- GST input credit on commercial property
- Nursery business
- TDS on Dashcam rent and allied services
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- Import Order Cancelled.
- IMS (import of goods) ITC related
- Royalty payments to the Mining Department for procurement of murum - GST input
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
