Maternal uncle wants to gift home

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
20 November 2014 Dear experts ,

My Maternal uncle wants to gift his home to me . If i receive that gift and use that gift for renting purpose , then will that income club in my maternal uncle income or in my income ?

If it will add in my maternal uncle income then show me some way so that it must add in my income ...


21 November 2014 Such transaction is NOT covered by Section 64 (clubbing of income). Accordingly the income from the house will be taxable in your hands & NOT in the hands of your uncle.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries