I.t. Assess(husband) some amount rs:50 lacs transferred to another I.t Assess(wife) bank account transfer.t his amount wife used for some un secured loans repayment purposes received.
question:
above transactions treatment both assess for cash gift to wife or cash loan to wife benefit and safe in I.t act.
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Income tax query treatment amount transferred
Replies (1)
If in future wife wants or need or if any agreement between them to repay then loan
other wise gift
other wise gift
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