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
Menu
Taxability of gift to wife
Replies (1)
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.
Recent Topic
- INCOME TAX DEPARTMENT: DOUBLE STANDARDS
- ITR-4,under presumptive Taxation
- TDS data mismatch with SFT
- Resale of under construction Residential Flat part
- What would be my Salary
- Damage good
- INCOME TAX RETURN
- Form 10E doubt
- LTCG on property sale after 24jul2024
- Should we mention NET INCOME or GROSS INCOME in i
Related Topics
CAclubindia
