gift to wife in cash
This query is : Resolved
manojkumargupta
(Querist)
16 February 2010
my wife is not assee but has pan no.
i want to give her 5.0lacs which she will use to create fdr of bank.kindly guide how to give money to wife and avoid clubbing provision
i want to give her 5.0lacs which she will use to create fdr of bank.kindly guide how to give money to wife and avoid clubbing provision
Aditya Maheshwari
(Expert)
16 February 2010
Whereas you can give her gift there is no where u can escape the clubbing provisions
CA Anil Jain
(Expert)
16 February 2010
Gift given to wife is clearly out from the purview of clubbing provisions.
Gift given to relatives are exempt.
Gift given to relatives are exempt.
Aditya Maheshwari
(Expert)
16 February 2010
Dear Anil
Please read section 64(1)(iv) on clubbing on assets given to spouse.
Please read section 64(1)(iv) on clubbing on assets given to spouse.
CA Anil Jain
(Expert)
16 February 2010
Yes, u r absolutely right with the provision of section 64(1)(iv).
But in the given case Mr. Manoj is giving cash to his wife not any asset.
If you go through section 56(2) and execption to it, Money received from spouse is not covered in that.
plz correct me if m wrong..
But in the given case Mr. Manoj is giving cash to his wife not any asset.
If you go through section 56(2) and execption to it, Money received from spouse is not covered in that.
plz correct me if m wrong..
CA Ravi Sisodia
(Expert)
16 February 2010
in this case clubbing provisions are applicable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Import Order Cancelled.
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- GSTR-9C filing
- Urd purchase entry in tally prime
- Form 144 TDS Return Validation Error – Mandatory Fields
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
