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Clubbing of income

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60 Points Joined February 2018
husbend give 10 lakhs gift to wife .who pay the tax on 10lakhs .
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On 05 January 2020 at 09:36 Report
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13 Points Joined October 2015
Proviso to S.56(2)(x) explains gift received from relative is exempt
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On 05 January 2020 at 10:35
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"Do the Right Thing...!!!"
128147 Points Joined January 2015
The gift is exempted in the hands of receiver (wife).

In husband's view it's his income. e related activities like if he is taxpayer then he already showed/shiwn in his return...
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On 05 January 2020 at 10:41
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13 Points Joined October 2015
HUSBAND has to pay tax on 10lakhs but wife is exempted.
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On 05 January 2020 at 10:43
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"Do the Right Thing...!!!"
128147 Points Joined January 2015
Yes... I said the same.
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On 05 January 2020 at 10:44
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17264 Points Joined December 2018
Nobody (neither husband nor wife) has to pay any tax on Rs 10 lakhs as it is exempt.

However income arising to wife (out of 10 lakhs gifted by husband) will be clubbed in the income of husband for a lifetime. (as per current provisions)
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On 05 January 2020 at 13:18

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