Gift limit

No limit for gifts between relatives (here spouses), as exempted u/s. 56(2)(x) of IT act.

But clubbing of income u/s. 64 of the act gets triggered.

Originally posted by : Dhirajlal Rambhia
	No limit for gifts between relatives (here spouses), as exempted u/s. 56(2)(x) of IT act. But clubbing of income u/s. 64 of the act gets triggered.

Is gift Deed Necessary or any Online Transfer saying gift to relative is sufficient evidence in  court  ?   

No need of gift deed in case of bank transfer; but in case of any query, confirmation of gift receiver is required.