Nre taxation
This query is : Resolved
08 August 2014
A NRE gifting his resident wife Rs. 40 Lakhs and wife is investing the said amount in a bank fixed deposit. what will be the tax liability under IT act for both Wife and Husband? Is the interest generated from bank FD taxable in the hands of Husband? What is the maximum amount that a Husband can gift to his wife in a financial year?
Rupesh Jain
(Expert)
09 August 2014
there is no limit of gift to his relative .
intt will taxable as clubbing of income
in hand of husband .
intt will taxable as clubbing of income
in hand of husband .
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