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clubbing provisions

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(Querist)
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.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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).
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