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.