Wealth tax liability on purchase & then gifted
This query is : Open
02 April 2012
Respected Experts,
I need your opinion on following issue:
If a woman purchased jewellery and then gifted the said jewellery to her minor grandsons, what will be the effect of this transaction -
1. will it be included in the net wealth of the woman (i.e. grand mother) while computing the Net Wealth Tax Liability?
OR
2. Will it be included in the daughter-in-law of the woman?
3. What documents will be required to maintain?
I need your opinion on following issue:
If a woman purchased jewellery and then gifted the said jewellery to her minor grandsons, what will be the effect of this transaction -
1. will it be included in the net wealth of the woman (i.e. grand mother) while computing the Net Wealth Tax Liability?
OR
2. Will it be included in the daughter-in-law of the woman?
3. What documents will be required to maintain?
10 April 2012
Very strange, No responce from any expert!
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