Income tax return
This query is : Resolved
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.
For giving gift wife need not to file ITR.
Gift deed should be prepared and also it should get registered.
02 March 2014
alternatively, just give the cash gift to wife and let wife buy the house on her own in the first place itself.
saves you from the process of going through the gift deed.
saves you from the process of going through the gift deed.
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
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- 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
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
