Tax liability on cash gift
This query is : Open
17 July 2014
If husband gives cash gift by cheque to his wife on gift deed, the interest earned by wife on it will be treated as income of wife or income of husband for income tax calculation.
Ranjan Kumar Malhotra.
17 July 2014
it will be treated as income of husband..............
17 July 2014
Firstly say what interest u r asking about? Coz one cant' earn interest on cash. if the amount is invested somewhere or the husband has forwarded the money to his wife as a loan then interest element is applicable.
18 July 2014
It is the income earned on that gift amt is to be clubbed. see what income is earned on that gift amt invested.
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