Clubbing of income provision applicable
This query is : Resolved
Kollipara Sundaraiah
(Querist)
11 July 2021
Sir,
It assess cash gift to mother rs:15 lacs through on bank mode.if assess mother received amount fd investment in bank and assess fd interest income received from mother after interest income gift to wife account transfer.
Question:
1.Above transactions clubbing provision applicable in it act
2.above transactions gift tax applicable
It assess cash gift to mother rs:15 lacs through on bank mode.if assess mother received amount fd investment in bank and assess fd interest income received from mother after interest income gift to wife account transfer.
Question:
1.Above transactions clubbing provision applicable in it act
2.above transactions gift tax applicable
CA Rashmi Gandhi
(Expert)
11 July 2021
1. Clubbing Provision applicable.
2. No Gift tax applicable
2. No Gift tax applicable
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