Hi All,
Please advise me on the Taxablity of GIFT from Husband to Wife. This GIFT is in the form of Cheque. Let me know if a Husband GIFTS money to Wife & Wife invests the same in investments in whose name the income will be chargable in Incometax. Whether the income will be clubbed in husbands name if the Wife is a house wife? or if the Wife is earning herself what will be the taxability of this GIFT from Husband to Wife.
IN MY OPINION CLUBBING SECTION IS THERE,AMOUNT INCLUDED IN THE HANDS OF HUSBAND,TO SAVE THIS BETTER IF WIFE TAKE THIS AMOUT AS LOANN AND GIVE INTEREST AND THEN INCOME IS TAKEN IN HER NAME
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