gift to wife in cash
This query is : Resolved
16 February 2010
my wife is not assee but has pan no.
i want to give her 5.0lacs which she will use to create fdr of bank.kindly guide how to give money to wife and avoid clubbing provision
i want to give her 5.0lacs which she will use to create fdr of bank.kindly guide how to give money to wife and avoid clubbing provision
16 February 2010
Whereas you can give her gift there is no where u can escape the clubbing provisions
16 February 2010
Gift given to wife is clearly out from the purview of clubbing provisions.
Gift given to relatives are exempt.
Gift given to relatives are exempt.
16 February 2010
Dear Anil
Please read section 64(1)(iv) on clubbing on assets given to spouse.
Please read section 64(1)(iv) on clubbing on assets given to spouse.
16 February 2010
Yes, u r absolutely right with the provision of section 64(1)(iv).
But in the given case Mr. Manoj is giving cash to his wife not any asset.
If you go through section 56(2) and execption to it, Money received from spouse is not covered in that.
plz correct me if m wrong..
But in the given case Mr. Manoj is giving cash to his wife not any asset.
If you go through section 56(2) and execption to it, Money received from spouse is not covered in that.
plz correct me if m wrong..
16 February 2010
in this case clubbing provisions are applicable.
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