Clubbing provisions

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Pankaj Bajaj (Querist)
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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'.. ????????

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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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.

Pankaj Bajaj

Pankaj Bajaj (Querist)
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06 July 2012 thanQ Mr.Bhardwaj :)

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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09 July 2012 You are welcome. You should use the thanks button to convey your thanks.

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