taxability of income on gift received from Husband and Daugh
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 August 2010
If Rs. 5,00,000/- received as a gift from her Husband, the amount may be invested somewhere, from that if any income receives by wife, then the income is taxable in the hands of Husband or Wife?
Similarly, If amount received from her DAughter as a GIFT, then the income on the same is taxable in the hands of mother? or Daughter? (Daughter is major)
Similarly, If amount received from her DAughter as a GIFT, then the income on the same is taxable in the hands of mother? or Daughter? (Daughter is major)
24 August 2010
The income would be clubbed and would be taxable in the hands of Husband.If the income is received from Daughter (Major) then the provisions of clubbing would not be attracted and the Income therefrom would be the taxable income of the wife
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