14 September 2012
Please give me the solution if a husband gifts Rs. 2,00,000/- to his wife and wife purchases a land for Rs. 4,00,000/- after adding rs. 2,00,000/- from her own funds and later on in the next F.Y. wife sells the plot and there is a short term capital gain, than whether the C.G. would be taxable in hands of husband or in the hands of wife.
14 September 2012
Mr. Bhardwaj my confusion is that sec. 64 is applicable only on income derived from assets gifted by the spouse but in my case the husband has gifted cash and not any asset, so whether cash gift would also be treated as gift of asset.
CAclubindia
