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Clubbing provision

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(Querist)
17 July 2009 Shares purchased by spouse from fund trf from husband and sold, income earned on sale of shares is to be clubbed in the income of husband?
fund transfer is taxable under gift tax?
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Jitender

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Jitender (Expert)
17 July 2009 in this case, clubbing will not apply and gift tax is also not applicable.

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