12 October 2011
Hi Client wants to gift his wife Shares worth 8 lakhs. Tell me if i am right. As per clubbing section ,the income from those shares will be clubbed in his hand. Dividend income will be exempt. Short term capital gain if any will be taxable. Long term capital gain will be exempt. What about income generated from reinvestment of dividend, STCG and LTCG?
If Client buys land worth 8 lakhs and gifts it to his wife what is the tax implications and formality to be completed. Please help Thanks
12 October 2011
1.income generated from reinvestment of dividend, STCG and LTCG WILL NOT BE CLUBBED 2. aNY INCOME FROM LAND WILL BE TAXED AS INCOME OF HUSBAND
CAclubindia
