husband is having individual trading bussiness, he received gift form wife through cheque, wife is also tax payer, is inocme of husband is required to be club in wifes income to the extent of gift amount?
Menu
Gift form wife
Replies (2)
Gift from spouse is tax free
Gift from relative exempt how ever Sec 64(1)(iv) will get attracted so the proportionate income will be chargable in the hands of wife. . .
You can show it as an unsecured loan instead of gift..
Recent Threads
- TDS Challan interst amount wrongly paid as surchar
- Query on TDS & Stamp Duty
- Query on form 26QB and TDS deduction
- Received this confusing IT notice. How to reply
- Houston Sign Company For Custom Signs, Banners &am
- Refund due to change in GST Rate Tobacco Products
- Lease related query can we rent out lease ?
- Planning of Ceased a Business i.e Closure of Compa
- Property value in 26QB
- Form 26QB Multiple Buyer/Multiple seller
Related Threads
CAclubindia
