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.
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