Gift taxation
This query is : Resolved
27 March 2014
If a tribal wife gives cash gift to her husband ( non tribal) then whether income generated from gift is taxable or not
28 March 2014
There is no criteria to judge gift based on caste of donor or donee. As per my opinion gift to relatives is totally exempt
25 April 2014
But gift given by one spouse to other is taxable in the hands of donor as per clubbing provision.
So just wanted to clarify as the donor here is a tribal wife who is exempt from income tax.
So can it be used as a tax planning tool?
So just wanted to clarify as the donor here is a tribal wife who is exempt from income tax.
So can it be used as a tax planning tool?
27 April 2014
As condition itself is getting satisfied that spouse comes in definition of relative so it is exempt from taxation. thus u need not to go in caste of wife etc. dont get confused.
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?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
