Gift Tax House

Dear Nilesh,

Transfer from husband to wife is not taxable.

Till the time house is not disposed off, any income(rent) will be taxed in the hands of husband.

At the time of sale - Capital gain will also be taxable in the hands of Husband

Clubbing provisions will be attracted if the Husband Transfer the house without adequate consideration or on agreement to Leave apart(i.e. income which arises from such asset which can be in the from of rent or which can be in terms of capital gain will be clubbed)

if wife sales the house after 1 month then the income from the capital gains will be calculated in the hands of wife & then the same will be clubbed with the husband.

thanks & regards

Mr.Nilesh

Clubbing provisions will definitely arise if husband transfers (gifts)  the house without adequate consideration or on agreement to Leave apart.....

any income arising from such asset wil be clubbed in the hands of the husband..i.e.transferor

If wife sells the asset the CG will be clubbed in the income of Husband who is the transferor of the asset....

i agree with all of u guys.................