21 July 2009
I want to make a gift to my wife whether i can gift it in cash up to which limit and if by cheque up to what limit and what documents are required to make a gift.
21 July 2009
Gift to wife is exempt upto any amount. You can make it in cash or cheque (preferable). As such no documents are required but you can give a declaration of gift on a Rs. 100/- stamp paper.
The income earned by your wife on amount of gift received by your wife will be clubbed in your hands as income
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