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Gift to spouse exceeding 50 k

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student
254 Points Joined December 2016
can husband gift more than 50000 to his wife. what is the condition for gift exceeding 50000
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On 27 April 2021 at 09:36 Report
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Chartered Accountant
24588 Points Joined November 2019
Gift received from Relatives is fully exempted from the levy of tax and no income tax would be levied on such Gifts. Wife is under relatives category
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On 27 April 2021 at 10:17
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Practice
1361 Points Joined June 2019
Agreed with Mr. Sourav.
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On 27 April 2021 at 12:24
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Confidential
177 Points Joined November 2017
But it should be governed by a gift deed otherwise it is not treated as gift
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On 27 April 2021 at 12:53
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student
254 Points Joined December 2016
Thanks sir,
but clubbing of income applicable or not
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On 04 May 2021 at 22:48
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Chartered Accountant
24588 Points Joined November 2019
Yes clubbing is applicable
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On 10 May 2021 at 09:41

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