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
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
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- ITDS U/S.194T of Firm
- NRI starting business in India
- ADVANCE PAYMENT OF ADVOCATE
- Capital gain on sale and purchase of plot
- TDS ON EMAIL DOMAIN SERVICE BILL
- Non-Compliance documents have not been submitted by the contractors debited
- EXPORT COMMERCIAL INVOICE HSN CODE
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
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
