My married sister wants to gift me Rs.50,000/- by cheque. I want to invest the same in my business. Will clubbing provision come into effect and she will have to pay tax on my income?
ramesh agrawal (business) (179 Points)
03 September 2012My married sister wants to gift me Rs.50,000/- by cheque. I want to invest the same in my business. Will clubbing provision come into effect and she will have to pay tax on my income?
Manjunatha M K
(Manager - Accounts)
(318 Points)
Replied 03 September 2012
Clubbing Provision is not applicable in your case.
Your income will not clubbed in your sister hands.
Harshal Fifadra
(Chartered Accountant)
(1489 Points)
Replied 03 September 2012
Agree with manjunath .......
CAclubindia
