Clubbing provisions
This query is : Resolved
sagar parakh
(Querist)
08 October 2013
If I transfer Car to my brother,then whether clubbing provision shall be applicable or Gift provision ?
08 October 2013
Clubbing Provision will not be applicable
CA Pallav Singhania
(Expert)
08 October 2013
Yes, the clubbing will not be done in this case,
However, if your brother makes any income from such car and having no Income tax file, then such income will be clubbed in your income if he's dependent on you...
regards,
However, if your brother makes any income from such car and having no Income tax file, then such income will be clubbed in your income if he's dependent on you...
regards,
09 October 2013
Clubbing provisions not applicable in this case.
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