56 2 (x)

Immovable property more than ₹50000 transferred to Son's wife , taxable in her hand or not ?
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Quick Summary
A discussion regarding the tax implications of transferring immovable property valued over ₹50,000 as a gift to a son's wife. While gifts of property are generally not taxed under the Income Tax Act, the 'clubbing provisions' may apply. Further clarification can be sought from the provided contact.

Transfer of property as a gift will not be taxed under the Income Tax Act, 1961. However, the clubbing provisions will apply.

In case of any further queries, kindly mail me at casoravgupta @ gmail.com

Thanks & Regards
CA. Sorav Gupta
(Practicing Chartered Accountant)

Thank you sir

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