Gift or clubbing incom

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 September 2015 can husband gift to wife in cash 15 or 20 lacs ,,,,,husband already manpower supply busniess and wife started new manpower supply business ....this transcation can taxable under clubbing income under income tax....what is income tax provision ...its taxable to husband
thanks sir..in this quaery anther problem is husband stop there business and then wife start it with new business new name ...beause of that officee say wife invest husband cash in business and wife getting income may be which inculding husband income under clubbing sect it is prosible

ANKIT AGARWAL

ANKIT AGARWAL (Expert)
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26 September 2015 Gift to Spouse - Any Amount - NO Tax Implication.

Clubbing not applicable in case of Gift. It may be applicable in case any Income accrues out of the Gifted amount in future years (Like Interest Income; Rent if gifted amount is used to buy Property etc)

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Querist : Anonymous

Querist : Anonymous (Querist)

26 September 2015 thanks sir..in this quaery anther problem is husband stop there business and then wife start it with new business new name ...beause of that officee say wife invest husband cash in business and wife getting income may be which inculding husband income under clubbing sect it is prosible

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