Gift
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 January 2012
Hi Experts,
Greetings.
Let me know the Implication if I Gift my Wife 2 Lakhs.(making FD in her name). And what are the records I have to maintain.
Regards.
Thanks
Greetings.
Let me know the Implication if I Gift my Wife 2 Lakhs.(making FD in her name). And what are the records I have to maintain.
Regards.
Thanks
21 January 2012
The gift given by you will be exempt from Tax.
Just make a gift deed for income tax purpose. Transfer the amount to your wife's account and then make the FD in her name by issue of cheque from her account.
Just make a gift deed for income tax purpose. Transfer the amount to your wife's account and then make the FD in her name by issue of cheque from her account.
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