If I give 50 lakh to my wife on line as gift . Is it taxable in her hand. This 50 lakh is given out of my savings
If I give 50 lakh to my wife on line as gift . Is it taxable in her hand. This 50 lakh is given out of my savings
The gift given of Rs. 50 lakhs will not be taxable in her hands .
But any income that she earns from investment of Rs. 50 lakhs will be taxable in your hands under clubbing provisions of income tax act.
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