Gift

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madan dhirajlal kansara

madan dhirajlal kansara (Querist)
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17 July 2018 can husband gift to his wife.... please share implication taxability

CA Mayur Todmal

CA Mayur Todmal (Expert)
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17 July 2018 YES, gift from relative is exempt under income tax

RAJA P M

RAJA P M (Expert)
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17 July 2018 It's not Taxability... It's fully exempted as per income Tax from the view of Relatives...

madan dhirajlal kansara

madan dhirajlal kansara (Querist)
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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

madan dhirajlal kansara

madan dhirajlal kansara (Querist)
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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

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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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.

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