clubbing provisions
This query is : Resolved
24 March 2010
Husband transfers house to wife, without any consideration.
Wife sold the house.
In whose hands the income is taxed.
Note:
Sec 64(i)(iv) relates to other than house property.
Wife sold the house.
In whose hands the income is taxed.
Note:
Sec 64(i)(iv) relates to other than house property.
24 March 2010
If husband transfers an asset without consideration to his wife and she sells it at a profit then capital gains arising to wife on sale of that asset is chargeable to tax in the hands of the husband.
Citation:-Seventilal Maneklal Sheth Vs CIT (1968) 68 ITR 503 (SC).
Citation:-Seventilal Maneklal Sheth Vs CIT (1968) 68 ITR 503 (SC).
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