Gift to wife

Hi,

You can make Gifts to your wife without attracting any tax liability. GIfts of Immovable property or money to Spouse is exempted u/s 56(2)(vii) of the Act.

Just a Gift Deed mentioning the details of the Gift will Suffice.

P.S.: As a matter of tax planning, One should avoid making gift to wives as CLUBBING provisions will get attracted.

Regards,

Prateek Agarwal