Gift to relative
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 March 2010
A person gifts immovable property and Rs. 10 lacs to his wife through a gift deed.
Whether the same will be clubbed in the persons Assets while Computing Tax.
Whether the same will be clubbed in the persons Assets while Computing Tax.
30 March 2010
yes.
when an asset is transferred without adequate consideration, then any income arising therefrom will be taxable in the hands of the transferor.
when an asset is transferred without adequate consideration, then any income arising therefrom will be taxable in the hands of the transferor.
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 March 2010
Is there any way out so that the transfer is not clubbed.
31 March 2010
no way
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