Transfer of money from before marriage account

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

22 February 2011 My wife had some savings of around 2 lacs in a savings account in her name before marriage.

Now we are married for about 7 years. Her last name is changed after mariage. She wants to open a new account with her new name and wants to trasnfer the money from the old account to new account ?

What are implication of doing this transfer from income tax perspective ?

Ravikant

Ravikant (Expert)
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22 February 2011 No Implication, its just a normal self bank to bank transfer .

CA Punit

CA Punit (Expert)
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22 February 2011 agree..
no implication, its her own money transferring from one account to another.

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Querist : Anonymous

Querist : Anonymous (Querist)

26 February 2011 Will there be any issue if she has her name as second holder in the new account ?

I already have an account where I am the first holder and she is the second holder. Can I simply transfer the amount in this account, or I should open a new account where her name is as first holder ?