Clubbing provision
mohammedshafi shaik (60 Points)
05 January 2020
husbend give 10 lakhs gift to wife .who pay the tax on 10lakhs .
mohammedshafi shaik (60 Points)
05 January 2020
prasad Nilugal
( GST Practitioner & Accounts )
(14151 Points)
Replied 05 January 2020
Under section 56(2) of the Income tax act 1961 ,Gift received form relative is not taxable in hands of recipient .Also prepare Gift Deed .
please confirm with others also .
Kapadia Pravin
(17249 Points)
Replied 05 January 2020
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