Income club or not
This query is : Resolved
14 August 2013
daughter in law made gift of rs 2 lakh to her father in law who has made FDR for rs 1 lakh in his name and 1 lakh into his businees whether the gift is taxable in the hands of father in law (receipt ant )and but is the Poisson of income earned by father in law on this gifted money of bank interest and income from business
14 August 2013
1. Amount received from daughter-in-law is NOT TAXABLE in the hands of the father-in-law.
2. Income earned from such amount will NOT be clubbed in the hands of the daughter-in-law since clubbing provisions DO NOT apply in case of transfer by daughter-in-law to her father-in-law.
2. Income earned from such amount will NOT be clubbed in the hands of the daughter-in-law since clubbing provisions DO NOT apply in case of transfer by daughter-in-law to her father-in-law.
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
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Sales return eway bill
- REGARDING GST LIABILITY/....
- Suggestions required for income tax filing-software (FY 2025-26)
- Loan by Partnership Firm
- E way bill for tractors
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Free lancer income
- Long Term Service award taxability in hands of company
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
