Gift to wife
This query is : Resolved
brij bhushan gupta
(Querist)
25 January 2015
if i give gift to my wife amount Rs 10 lacs by cheque and she purchase agriculture land .what will be my tax liability as income from agri is tax free
CA NAVEEN SINGLA
(Expert)
25 January 2015
Sir,
Gift To Relative is tax Free as per Income tax Act. Further Income from Agriculture Land would not clubbed in your income as she would earn Agriculture Income from her own Efforts.
Question of your Tax Liability doesnot arise at all
Gift To Relative is tax Free as per Income tax Act. Further Income from Agriculture Land would not clubbed in your income as she would earn Agriculture Income from her own Efforts.
Question of your Tax Liability doesnot arise at all
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