Income Tax calculation in Gifted Mutual Fund
This query is : Resolved
Quick Summary
22 July 2025
Hello Sir, X person buy MF of Rs 1 L after 2 years it's valuation is 1.3L . He gave gift this whole 1.3L MF to his wife .
Will X person need to pay tax on 30K(1.3L-1L) on this year ?
suppose again after 2 years valuation of MF is 2 L and wife sold MF. So On what amount wife (Or Husband if we consider clubbing of income )need to pay tax ? Is it on 70 K (2L-1.3L) or 1 L(2L-1L i.e. original price of MF)
Will X person need to pay tax on 30K(1.3L-1L) on this year ?
suppose again after 2 years valuation of MF is 2 L and wife sold MF. So On what amount wife (Or Husband if we consider clubbing of income )need to pay tax ? Is it on 70 K (2L-1.3L) or 1 L(2L-1L i.e. original price of MF)
22 July 2025
1. No.
2. 1 lakh U/h husband.
2. 1 lakh U/h husband.
Message likes :
1 times
25 September 2025
Good luck...
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
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- GST ON TRAVELLING BILLS
- F & O PROFIT REPORTING FOR AY 2026-27
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
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
