Wealth tax
This query is : Resolved
19 March 2014
Please do help. An individual has gifted some amount through cheque to his wife for the purchase (advance payment) of a flat in her name. The amount so gifted is whether includable in his net wealth under the Wealth Tax Act. Please eloborate.
19 March 2014
Not taxable. Cash in hand exceeding Rs.50000 are taxable only
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