Gift of cash to wife
This query is : Resolved
11 August 2018
If I payoff the loan taken by wife and show the fund transfer as a gift to wife, what are the tax implications?
12 August 2018
1. Gift to wife by husband is taxable in hands of Husband on any earning by that gift money to wife from husband.
2. Recoverable loan with some deed given to wife is taxable in hands of wife in case wife earns something out of loan money.The payoff the loan by wife to husband is to be done by wife from her taxable or declared Income only .
ok
2. Recoverable loan with some deed given to wife is taxable in hands of wife in case wife earns something out of loan money.The payoff the loan by wife to husband is to be done by wife from her taxable or declared Income only .
ok
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Capital gain consideration
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
