GIFT TO NON WORKING SPOUSE

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If you gift an apartment to your non-working spouse, you generally don't declare it in your own tax return. However, your spouse should declare it as an exempted gift in their return. Be aware that under Section 27 of the Income Tax Act, you may be considered the deemed owner, meaning any income generated from the property will be added to your income for tax purposes.

10 January 2023 APARTMENT GIFTED TO SPOUCE -SHE IS HOUSE WIFE NOT WORKING - SHALL I MENTION THIS IN MY RETURN?


10 January 2023 Not possible to declare it in your ITR.
Advised to declare it in her ITR, as exempted Gift.
Please not that clubbing of income under sec. 27 of IT act, will be applicable in your case.

10 January 2023 Nothing to mention in ITR.
As per the income tax law, you are deemed-owner of the property.
All its income will be added to your ITR.


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