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Gift to spouse exceeding 50 k
can husband gift more than 50000 to his wife. what is the condition for gift exceeding 50000
Replies (5)
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
Agreed with Mr. Sourav.
But it should be governed by a gift deed otherwise it is not treated as gift
Thanks sir,
but clubbing of income applicable or not
but clubbing of income applicable or not
Yes clubbing is applicable
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