Gift amount limitation to spouse under income tax
Balaji Paskanti (11 Points)
12 January 2020Balaji Paskanti (11 Points)
12 January 2020
rama krishnan
(12234 Points)
Replied 12 January 2020
Balaji Paskanti
(11 Points)
Replied 12 January 2020
RAMAKRISHNAN R
(INCOME TAX OFFICER)
(1736 Points)
Replied 12 January 2020
RAJA P M
("Do the Right Thing...!!!")
(126697 Points)
Replied 13 January 2020
CA Arun Tiwari
(Partner)
(3015 Points)
Replied 16 January 2020
As per the provision of the income Tax , gift to spouse is exempt from tax irrespective of any amount as spouse falls in definition of relative But clubbing provisions will be attracted and income from that gift shall be clubbed in total income of donor.
V K Vijayaraghavan
(PRACTICE)
(186 Points)
Replied 16 January 2020
Gifts can be given in cash or in kind like Jewellery
Balaji Paskanti
(11 Points)
Replied 16 January 2020
RAJA P M
("Do the Right Thing...!!!")
(126697 Points)
Replied 16 January 2020