gift
This query is : Resolved
18 May 2009
Suppose Mr X is prop. of a firm and in that firm MRS. X has unsecured loan. Whether unsecured loan of Mrs. X is converted into gift to Mr.X.
19 May 2009
No, It cann not.
19 May 2009
if wife makes a gift to husband , there is no income tax benefit. Because the income will be clubbed with wife.
There is no bar on making gift to husband......
LOAN IS A RIGHT TO THE AMOUNT FROM A PERSON.THAT RIGHT IS RELINQUISHED WILL AMOUNT TO GIFT.
There is no bar on making gift to husband......
LOAN IS A RIGHT TO THE AMOUNT FROM A PERSON.THAT RIGHT IS RELINQUISHED WILL AMOUNT TO GIFT.
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
- CG Tax On residential property
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Under construction property in ITR
- Gift of mutual fund units to daughter
- Not able to file ITR
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- PPF interest-As Exempt Income disclosure
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
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
