Gift
This query is : Resolved
17 July 2018
can husband gift to his wife.... please share implication taxability
17 July 2018
YES, gift from relative is exempt under income tax
17 July 2018
It's not Taxability...
It's fully exempted as per income Tax from the view of Relatives...
18 July 2018
no my question is that i gift 2 lacs to my wife now my question is that taxability in my and my wife who is liable to tax
18 July 2018
no my question is that i gift 2 lacs to my wife now my question is that taxability in my and my wife who is liable to tax
28 September 2021
A person can gift any amount to his wife. There is no bar, except it should be through banking channel, or within the cash limit specified in the act.
None have to pay any gift tax, but due to clubbing provision, the income generated from the gifted amount would be taxable in the hands of husband.
None have to pay any gift tax, but due to clubbing provision, the income generated from the gifted amount would be taxable in the hands of husband.
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