Transfer of asset by individual to would be wife
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 October 2011
Suppose, X is married according to Hindu customs on 10.10.2011 and thereafter transfers his asset to Mrs. X on 13.10.2011 without adequate consideration.
And on 15.10.2011, He got his marriage registered in court.
Now whether provisions of Clubbing of income on such asset will be applicable or not i.e. whether it is a transfer before marriage or after marriage?
And on 15.10.2011, He got his marriage registered in court.
Now whether provisions of Clubbing of income on such asset will be applicable or not i.e. whether it is a transfer before marriage or after marriage?
15 October 2011
According to sec 64(1)(iv)--relationship of husband and wife shall be exist on the date of transfer of assets....in your case x get married on 10.10.2011....so it will be clubbed on the hands of X.
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