My Mother, that's my wife's mother-in-law want to gift some high value shares to her. Mother is old aged and now want to give some of her shares to my wife. My query is below.
1. If my mother gifts some shares to my wife, then will it attract gift tax?
2. Will the dividends from these shares be clubbed in my income?
3. Do I have to make a gift deed.
I am confused and I have been asking this question to many experts, but cannot find a satisfactory reply. Please help. Thank you.
CAclubindia
