After having paid my cap gains on sale of immovables
1. Can I gift 15 laks to my spose? The amount would be used for her to pay her bank debts and therefore there would be no income generated from that money. Is the gift tax exempted? Can it be used to pay of loans by her. Is the matter closed? or does any accountability continue?
Thank you
You can gift her and clubbing provisions will attact only if there is only income.
Gift tax is abolished.
| Originally posted by :Suresh Kumar | ||
| " | After having paid my cap gains on sale of immovables 1. Can I gift 15 laks to my spose? The amount would be used for her to pay her bank debts and therefore there would be no income generated from that money. Is the gift tax exempted? Can it be used to pay of loans by her. Is the matter closed? or does any accountability continue? Thank you |
" |
Gift given to relatives both in cash or in kind is exempt.
income from asset gifted will be Clubbed only if it is recoverable.
there is no limit of gift given in cash to relatives
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