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(Querist)
11 May 2018 I want to gift rs. 5 Lakhs to my wife. Will this be treated as her income for the year ? Further the income derived from this will be clubbed with my income ?
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CA Ankit R Momaya

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CA Ankit R Momaya (Expert)
11 May 2018 Amount gifted to relatives would not be treated as income.

However any income generated from the above amount would be taxable in your hands.

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