Gift tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 November 2016 gift have been given to wife like immovable property. dlc rate of property 80 lac what will be tax treatment?

CA R SEETHARAMAN (Expert)
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06 November 2016 No tax applicable on this gift but income earned from the property will be clubbed in the hands of husband.

Querist : Anonymous

Querist : Anonymous (Querist)

06 November 2016 dear sir are you sure if yes than what will be clubbed in hand of husband?

Querist : Anonymous

Querist : Anonymous (Querist)

06 November 2016 just like for example

CA R SEETHARAMAN (Expert)
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06 November 2016 If cash is gifted and wife deposit the cash in FD, interest income from FD is clubbed with the income of husband.

Querist : Anonymous

Querist : Anonymous (Querist)

06 November 2016 dear sir,
there is no cash gift only immovable property gift to wife so what will be clubbed in the hand of hasband ?

CA R SEETHARAMAN (Expert)
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06 November 2016 Any income from the property like rent will be clubbed with husband's income.

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