Recently I sold my shares and fullfield all tax liability on the same.
Now I want to trasnfer the same amount to my wife who isnt earning any money of her own.
Is there any tax liability on her ?
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Transferring money to wife.
Replies (2)
Transferring the already taxed income to your spouse is exempt and will be treated as a gift in the hands of your spouse that means not liable to any taxation.
But remember if any income accrues from the gifted Money that income will be clubbed with your income.
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