Menu
Gift
if i had gift to spouse rs.300000/- by chq
if she use it in her profession.is any clubbing prov applied?
Replies (3)
Dear Rupesh soni
there are two provisions would apply to your question i.e. 56 (2) and 64 (1) (iv)
as per section 56 (2) , these 3 lac is not taxable in the hand of spouse because it is a gift from relative (make sure that gift deed has been prepared)
as per section 64 (1) iv, if your spouse start business by these 3 lac than that income will be taxable in your hand even profit remains in the hands of spouse.
but if she invest 4 lac i.e. 3 lac yours and 1 lac own, than income will be taxable in the proportion of 3:1
(there is more explanations also but i have given in short for your reference)
yaaa....I know.. thank you
in stead of spouse i give cheque to Major Son Rs.300000/- as gift thn he use it In His business..
is clubbing apply?
same provision would apply as i described before
Recent Topics :
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
- Register on Income Tax as CA
- Deduction In Employee Provident Fund
- This is a gift for all Chartered Accountants and P
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Wallet query for GST.
- 25-26 exempted sales
- Hotel stay below Rs.1000/- GST applicable or exemp
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
Related Topics :
CAclubindia
