Gift
Can I gift 20 lakhs cash to wife?
Replies (3)
Looks like you have a lot of CASH to gift around !!
. As already discussed, cash gifts are very difficult to manage for both donor and receiver. But gift to wife presents a special problem as against gift to major daughter. Any income arising out of money gifted to wife will be added to your own income( Clubbed). So if you are looiking for making investments in name of your wife, not much tax benefit would accrue
Hi,
Gifting Cash to Wife will Attract "Clubbing Provisions".
best way to Curb this is to Give an Unsecured Loan to Wife.
For the same, you will not attract any Provision of Income Tax Act -1961.
Thanks sir. This is best idea
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