Gift
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 April 2012
Hi
If father in law give cash gift to his daughter in law. Proper gift deed is made.
Is the income on gift arise will attract the clubbing provision of Income Tax Act Section 64(1)(vi)
Thanks & regards
Umesh Gautam
If father in law give cash gift to his daughter in law. Proper gift deed is made.
Is the income on gift arise will attract the clubbing provision of Income Tax Act Section 64(1)(vi)
Thanks & regards
Umesh Gautam
23 April 2012
No Clubbing provisions would not be applicable. If there is any income from Gift & she is minor then clubbing provision would be applicable in the hands of parents itself who are maintaining the DIL
23 April 2012
Cash gift from relatives are allowed.
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