My mother wants to gift 26 lakhs from a/c payee cheque . Pls tell me how much rs stamp paper for make gift deed and can my mother give money my wife as gift
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Money gift related
Replies (7)
Your mother can give gift of any amount to your wife, by way of cheque/ banking mode......
Just an affidavit confirming the loan and acceptance by your wife is enough............
But note that any income earned by your wife over the gifted amount will be clubbed into income of your mother....... (clubbing provision under income tax) !!!
How much rs stamp paper for affidavit
stamp paper of any amount above Rs. 50
Thanks of all and when I got gift from mother then earned income clubbed with my mother or me
if money will be received by your wife then the income will get clubbed in your income as per relevant clause of section 64
also if you receives money from your mother then there won't be any tax liability as in that case it is received from a relative and therefore exempt if amount exceeds Rs.50000
| Originally posted by : Bharat | ||
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When I got gift from mother then earned income clubbed with my mother or me |  |
No clubbing in that case. The income earned on the gifted money will be assessed in your account...
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