|
One of my friend has already given loan to his wife, but now he want to gift the loan amount. Can he gift the loan, if yes what will we the tax implication? Is clubbing applicable? |
Menu
Gift to relative
Replies (3)
Quick Summary
| Originally posted by : Mohd. Naseem Bari | ||
 |
One of my friend has already given loan to his wife, but now he want to gift the loan amount. Can he gift the loan, if yes what will we the tax implication? Is clubbing applicable? |
 |
One of my friend has already given loan to his wife...???
What is this mean...??
Can You elaborate this transactions...???
Asset transferred to spouse (directly or Indirectly) Otherwise than adequate consideration; and NOT under an agreement to live apart, Then income earned from such asset shall be clubbed in the hands of Transferor to extent only amount proportionately relatable to inadequate consideration. Sec. 64(1)(iv) & (vi).
I concur with the view of Mr rohan
Recent Topics :
- Invoice made but goods not sent
- How Do CA Firms Manage Client Document Collection
- How do CA firms manage pending client documents du
- How to find a good CA
- Rcm on rent paid
- Clarify on GST Application
- Residential status for overseas students visitin
- Capital Gains Tax
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
Related Topics :
CAclubindia
