02 March 2014
Hello ..Say.. my one of client wants to purchase flat but he want it to be in the name of his wife by giving gifts to his wife...so questions are..
1. his wife has not filed Itr so far..so now is she required to file nil return to just to disclose gift amount which is exempt.
2. Is any gift need to be drafted or gift can be declared just by giving cheque to his wife. .
02 March 2014
There are two point of action. First, purchase of flat 2. gift it to his wife. For giving gift wife need not to file ITR. Gift deed should be prepared and also it should get registered.
CAclubindia
