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gift to Spouse
Hi, suppose husband and wife owns couple of properties jointly and suppose if wife transfer/ release or gift her share to Husband or vice versa. Will there be capital gain, what is the tax impact, plz guide
Replies (2)
there will be no capital gain tax impact since the gift to the relative is exempted irrespective of the value. however, it is better if a gift deed is created
any type of gift to spouse is covered u/s 56 (2) x where the gift is fully exempt except the case maybe for clubbed income ..
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