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Purchase of property

This query is : Resolved 

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

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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