Taxability of Gift
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 May 2010
If an individual makes a gift in cash or by cheque to his spouse and that money is utilized by the spouse for purchase of an asset . Whether the income earned by the spouse from that asset will be clubbed in the income of the individual.
Rahul Gupta
(Expert)
28 May 2010
Yes. It will be clubbed in the hands of the individual.
28 May 2010
AGREED
28 May 2010
AGREED . INCOME WILL BE CLUBBED IN YOUR HAND.
28 May 2010
INCOME WILL BE CLUBBED
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