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
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.
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