Professional
63 Points
Joined July 2010
My question is with regards to Clubbing. This is because any irrevocable tranesfer without consideration is clubbed in the hand of transferor. Eg: I gift sum of Rs. 50,00,000 to my brother. My brother invested said sum in Shares. Now clubbing Prov. says Inocme/Loss from the said share should be clubbed in my hand.