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gift tax

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(Querist)
23 November 2009 one person has gifted cash to his wife and that cash was invested by her. Now, is income from that investment taxable in the hand of husband or wife.Please mention the procedure to gift cash to spouse.
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chetan soni

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chetan soni (Expert)
23 November 2009 Income from such investment will be clubbed in the hands of husband.
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Praveen Sharma

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Praveen Sharma (Expert)
23 November 2009 agree wth experts
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