Capital gain urgent query-Property in wife name

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CA Parul Saxena (Querist)
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06 September 2024 A husband wants to gift Rs.20 Lakhs to his wife to purchase a property in its wife's name....what are the tax implications?

CA R SEETHARAMAN (Expert)
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06 September 2024 No tax implications.
Gift to wife exempt from tax but clubbing provisions applicable on any income from gift.

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