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Purchase of property

This query is : Resolved 
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(Querist)
23 February 2021 Mr A received amount from metro Rs 5000000 this is exempt as per RFCTLARR Act. Mr A wants to transfer Rs 3000000 for his wife and wife will purchase property in her name. advise the taxability in this aspect
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
23 February 2021 This not taxable as gift to relative exempt. Any rent receipt on the property will be taxable in the hands of husband under clubbing provisions.
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