Maternal uncle wants to gift home
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 November 2014
Dear experts ,
My Maternal uncle wants to gift his home to me . If i receive that gift and use that gift for renting purpose , then will that income club in my maternal uncle income or in my income ?
If it will add in my maternal uncle income then show me some way so that it must add in my income ...
My Maternal uncle wants to gift his home to me . If i receive that gift and use that gift for renting purpose , then will that income club in my maternal uncle income or in my income ?
If it will add in my maternal uncle income then show me some way so that it must add in my income ...
21 November 2014
Such transaction is NOT covered by Section 64 (clubbing of income). Accordingly the income from the house will be taxable in your hands & NOT in the hands of your uncle.
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