Gift among relatives and clubbing provision
This query is : Resolved
Quick Summary
Chahat Khanna
(Querist)
06 December 2023
Resolved and deleted.
06 December 2023
Basically Clubbing Provisions will apply only if Gift is given with revocable clause, which can be interpreted by plain reading of the Act. Gift to Relatives is exempt from Tax.
Chahat Khanna
(Querist)
06 December 2023
Resolved and deleted.
07 December 2023
As per my Knowledge it wont be taxable.
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