If Mr. A gifts Rs. 500000 to wife of friend Mr. B on occasion of their marriage
and Mr. B gifts Rs. 500000 to wife of Mr. A on accasion of their marriage,
and House property is purchased by the respective wives out of Rs. 500000.
Will Rental income from the house attract provisions of clubbing by way of cross transfer?
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Cross transfers (Clubbing of income)
Replies (3)
No.
Thanks mam 😊
if this case of brother's wife instead of friend
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