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Gift provisions u/s 56(2)(10)
Whether tramsfer of property to brothers wife will be taxable as gift and also clarify on clubbing provisions.
Replies (2)
Gift received by brother's wife from brother/sister of husband is not taxable.
No clubbing of income applicable in this case.
no applicability of 56(2)(x) but the income derived from the transferred property shall be taxable in the hands of transferor. this is my point of view as per section 64(iv) . correct me if I'm wrong
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