22 July 2017
X gift the car to his wife-Y. X still pay the interest on loan which he take for purchasing car. And car is still in the name of X, even after gifted to wife-Y. It is valid gift ?
Moreover, Y give that car on rent and stared earning.(car is still in name of X) In such a case clubbing provision attracted ? Thanks in advance, hope you understand the case study !
CAclubindia
