Income tax query for treatment amount transferred

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(Querist)
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23 December 2020 Sir,
One of a I.t Assess (husband) some amount rs:80 lacs transferred to another I.t Assess(wife) bank account transfer.this amount wife used for some loans repayment purposes
Question:
Above transactions both assess treatment for cash gift to wife or cash loan to wife benefit and safe under I.t. act.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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23 December 2020 Gift to relative exempt from tax. Transfer through bank no problem. Amount utilised for loan repayment clubbing provisions not applicable as no income earned.

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