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Gift

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 April 2012 Hi

If father in law give cash gift to his daughter in law. Proper gift deed is made.

Is the income on gift arise will attract the clubbing provision of Income Tax Act Section 64(1)(vi)

Thanks & regards

Umesh Gautam
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sanjeev

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sanjeev (Expert)
23 April 2012 No Clubbing provisions would not be applicable. If there is any income from Gift & she is minor then clubbing provision would be applicable in the hands of parents itself who are maintaining the DIL
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
23 April 2012 Cash gift from relatives are allowed.




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